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Despite Covid-19, FDI in Vinh Phuc is expected to increase more than 2.5 times the plan

Date: 12/8/2021 12:15:03 PM

It is expected that for the whole year of 2021, Vinh Phuc province will attract more than 1.1 billion USD of foreign direct investment (FDI), equaling 253.75% of the plan and increasing by 50% over the same period in 2020.

This is an encouraging result for Vinh Phuc’s constant efforts in not forgetting to do well in promoting and receiving investment in the right form even during the pandemic to create a premise for a breakthrough development. break when the epidemic is under control.

FDI CONTINUES GROWTH

As of November 2021, there have been 32 new FDI projects granted registration certificates in Vinh Phuc with a total registered capital of nearly 878.8 million USD and 28 capital adjustment projects with a registered capital of 132 million USD. USD. In general, the total newly registered and increased FDI capital in 11 months reached 1.01 billion USD.

With good control of the Covid-19 epidemic, ensuring a safe production - investment - business environment, Vinh Phuc expects FDI capital to continue to increase in the last month of 2021.

Accordingly, the total registered FDI capital for the whole year can reach over $1.1 billion and accumulated by the end of 2021, the province will have 429 valid FDI projects with a total registered investment capital of $7.1 billion. .

According to many experts, along with attractive and transparent investment policies, the dynamism and enthusiasm of Vinh Phuc authorities at all levels in removing obstacles and difficulties, ensuring production flow - Doing business for businesses is the attractive point of Vinh Phuc’s investors.

Even during the time of the strong outbreak of the Covid-19 epidemic, many foreign investors continued to come to Vinh Phuc to learn about investment and survey the construction site of factories. This promises that FDI in Vinh Phuc will continue to increase in the near future.

A clear demonstration of the prospect of FDI inflows into Vinh Phuc in the near future is the Memorandum of Understanding (MOU) between the People’s Committee of Vinh Phuc province and Sojitz Group (Japan), JSC Vietnam Dairy Products (Vinamilk) and its member company Vilico within the framework of Prime Minister Pham Minh Chinh’s official visit to Japan at the end of November 2021.

This is an agreement to invest and develop a beef project in Vinh Phuc with a total investment of about 500 million USD. Although it is only an initial investment commitment, there are still many procedures to be completed until the project is officially implemented, but according to analysts, the project will open new opportunities for the locality. in attracting investment in the future, especially in the field of agriculture - high technology.

ATTRACTIVE FROM “SOFT” ELEMENTS

Sharing with VnEconomy about the investment expansion plan, making the factory in Vinh Phuc become Piaggio’s largest production "base" globally, Mr. Gianluca Fiume, President and General Director of Piaggio Vietnam, said that besides advantages of geographical location such as bordering Hanoi, no floods, earthquakes... very convenient for construction and industrial development... Vinh Phuc is also attractive to Piaggio thanks to its "soft" advantages.

“We have built strong relationships with hard-working workers, with longtime associates, with trusted partners and with a government that acts in support of business development. . These are the "soft" factors that attract investors," emphasized Mr. Gianluca.

In fact, not only Piaggio, there have been many investors with famous global brands operating successfully in the province, while continuing to expand the project on a large scale and create an attractive "push". lead to pull many satellite projects into the province.

Accordingly, Vinh Phuc actively implemented Resolution No. 02/NQ-CP of the Government and Resolution No. 01-NQ/TU of the Standing Board of the Provincial Party Committee on a number of basic solutions to improve the investment environment and improve the investment environment. Vinh Phuc province for the 2016-2021 period… towards continuing to build a more fair, friendly and open business environment.

In addition, in order to improve the Provincial Competitiveness Index (PCI) in 2021 and the following years, Vinh Phuc focuses on improving the sub-indexes with low rankings and low scores (the next index). access to land, fair competition, business support services, transparency, etc.). On the other hand, continue to maintain and improve the indexes with high scores and rankings (market entry index, time cost, unofficial cost)…

According to Chairman of Vinh Phuc Provincial People’s Committee Le Duy Thanh, in addition to the factors mentioned above, the three prerequisites that Vinh Phuc is trying to improve and perfect to attract investment capital today are human resources, land and infrastructure. science and technology.

“Vinh Phuc has very well prepared conditions such as clean land, proactive planning of industrial parks, technology ecosystems… especially infrastructure to serve the lives of foreign investors well. Perhaps this explains why Vinh Phuc has made a breakthrough in attracting FDI in recent years, "said Mr. Thanh.

CONTINUOUSLY MAINTAIN FEELING CHARACTERISTICS

In the context that the Covid-19 epidemic is still unpredictable, the stability of the investment environment and the creative, flexible and effective ways to prevent the Covid-19 epidemic are still considered the top factors to strengthen the investment environment. strengthen the confidence of foreign investors in Vinh Phuc.

“So, in the coming time, along with drastic measures to prevent, combat and control the Covid-19 epidemic, Vinh Phuc will focus on removing difficulties and supporting businesses to solve problems arising due to the interruption in business activities. supply, shortage of labor force, expert force... to ensure the stability and re-development of enterprises", said Mr. Le Duy Thanh, Chairman of Vinh Phuc Provincial People’s Committee.

In particular, in the context of many foreign investors working in supporting industries for large electronics firms that are in need of investment, Vinh Phuc advocates promoting investment and building industrial parks and industrial clusters. modern and synchronous in order to anticipate FDI inflows in the coming time.

Accordingly, on the basis of the general urban planning of Vinh Phuc province to 2030, with a vision to 2050, the province plans 50 industrial zones and clusters, with an area of over 5,897 hectares located along national highways, convenient for transportation connecting with international airports and inland deep-water ports. In which, some notable new projects such as Thai Hoa, Lien Son, Lien Hoa Industrial Parks - Area 1 with a scale of 283.37 ha, estimated capital of 97 million USD; or investment project on construction and infrastructure business of Phuc Yen Industrial Park with a scale of 139.2 hectares and an expected capital of 45 million USD…

In addition, Vinh Phuc has also approved a list of projects calling for investment in the form of direct investment or investment in the form of public-private partnership (PPP) focusing on the fields of high-tech industry development. , supporting industries, tourism - services, high-tech agriculture ... to attract the attention and research of investors.

"In order to facilitate investors in Vinh Phuc, the province has prepared more than 500ha of clean land for industry, which can be immediately delivered to investors when needed," said Chairman of Vinh Phuc Provincial People’s Committee.

Along with that, Vinh Phuc is continuing to improve administrative procedures, improve the investment and business environment in the direction of applying electronic information technology, handling administrative procedures according to the one-stop-shop mechanism. interconnection.

“Especially, Vinh Phuc leaders committed that, if there are any difficulties in the investment process, businesses and investors can meet and discuss directly with the heads of the province and directors of departments, departments and branches in the province so that the province can promptly solve and remove difficulties and problems for investors", Vinh Phuc Chairman emphasized.

In recent years, the work of promoting and attracting investment into Vinh Phuc has been strengthened with various and diversified forms of promotion. The province has implemented many synchronous solutions, mobilizing the active participation of all levels and sectors in the determination to well implement this goal.

Accordingly, specialized agencies in the province regularly update information, supplement the database, and build and design a new set of investment promotion documents of the province (with 05 languages Vietnamese, English and Vietnamese). , Japan, Korea, China), printed a DVD introducing the general plan of Vinh Phuc to provide domestic and foreign investors to serve investment promotion activities and foreign affairs.

On the other hand, provide timely and complete public information on the investment situation in the field of planning, socio-economic development plans of the province, potentials, markets, fields calling for investment and investment partners, in order to create conditions for investors and businesses to find information and access projects in the province’s investment attraction orientation and expand investment connections.

(Source:VNEconomy)

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