Thanks to continued efforts in promoting and attracting investment, particularly through on-site investment promotion that allows potential investors to see the real business environment in the province's industrial zones, Vinh Phuc’s industrial zones have welcomed a significant number of new projects in the first eight months of 2024.
According to the report from the Provincial Industrial Zones Management Board, in August 2024, the board issued new investment registration certificates and approved capital increases for two projects—one foreign direct investment (FDI) project with an additional registered capital of USD 24.9 million and one domestic direct investment (DDI) project with an increase of VND 100 billion.
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As of the end of August 2024, the province's industrial zones have attracted 24 new FDI projects and 25 capital-increased FDI projects, totaling USD 402.1 million in new and additional investment, which is 115% of the 2024 target. Additionally, there have been 9 new DDI projects and 6 capital-increased DDI projects, amounting to a total of VND 3,060.53 billion, reaching 204% of the 2024 plan. Cumulatively, there are 493 active investment projects in the province's industrial zones, including 117 DDI projects with a total investment of VND 37,784.64 billion and 376 FDI projects totaling USD 6,742.89 million. Currently, there are 80 industrial zone projects in the province that have yet to commence operations, consisting of 15 projects under construction and equipment installation (3% of total projects), 57 newly licensed projects awaiting procedural approvals (11.6%), 4 projects undergoing compensation and land clearance (0.8%), and 4 projects on hold with delayed implementation (0.8%).
In September 2024, the Provincial Industrial Zones Management Board plans to issue investment registration certificates and approve capital increases for 2-3 FDI projects with a total registered capital of around USD 100 million, as well as new registrations and adjustments for 1-2 DDI projects with a total registered capital of about VND 830 billion. Additionally, 2-4 more projects are expected to commence operations, with FDI projects realizing approximately USD 40-45 million and DDI projects achieving around VND 200-300 billion in actual investment.
To achieve these goals, the Provincial Industrial Zones Management Board is intensifying its state management efforts across all sectors. A special emphasis is being placed on administrative reform and improving the investment and business climate. They are collaborating with investors and relevant authorities to expedite land clearance processes for both the industrial zones and any remaining land, as well as investing in infrastructure development for operational industrial zones. Furthermore, they are reviewing project progress, ensuring that projects adhere to their commitments, and working with companies that are lagging behind to help them adjust their projects to align with actual conditions. The board is also assessing the production and business situation to promptly resolve any challenges faced by enterprises.
Bich Phuong