The electronics industry in Vinh Phuc province is experiencing high growth driven by its highly automated modern production lines and expanded export markets. In the first six months of 2023, the sector expanded by 14.17%, contributing 2.82 percentage points to the province’s overall growth. The province currently has more than 200 electronics projects, accounting for about 60% of total industrial projects in industrial parks and 50% of total industrial production value.
Jahwa Vina Co., Ltd in Khai Quang Industrial Park
Vinh Phuc province has introduced many policies to create an open corridor to boost the development of electronics and supporting industries, with priority given to the high-tech electronics sector. The province has organized seminars to attract domestic and foreign investment and supported businesses to upgrade and transfer technologies to enhance productivity and product quality and create opportunities to deeply join global supply chains. In particular, Vinh Phuc province adopted the investment attraction policy on disruptive high-tech electronics development in 2021-2030 to woo giant firms, high-quality investment flows and high-tech projects. Accordingly, the province supported rental prices of industrial park infrastructure and the cost of making environmental impact assessment (EIA) reports for high-tech electronics investment projects to help investors with more financial resources for production and high-tech application to production. This move was expected to leverage and draw more electronics investors.
In the coming time, Vinh Phuc will realize the goals of the resolution of the 17th Provincial Party Congress Committee (2020-2025 term): “Giving priority to attract high-tech electronics industries and making Vinh Phuc an electronics hub of the country, Vinh Phuc will continue to selectively and actively attract investors and base on social, economic and environmental foundations to attract investors.”
By Tran Ngoc, Vietnam Business Forum
Vietnamese
