The province now ranks fifth nationwide in attracting investment.

The most recent projects include five foreign-invested projects worth $80.5 million, bringing the total number of licensed projects in the province to 400, which are worth a cumulative total of about $2 billion and which have created about 35,000 jobs.

During the period, 20 existing foreign-invested projects also increased their levels of registered capital by $100 million. These projects were mainly involved in such fields as computer and electronics production.

Vinh Phuc has a plan to develop its industrial zones that includes the establishment of 10 additional industrial zones over the next six years, covering 4,589ha, said the head of the provincial industrial zones authority, Nguyen Cong Loc.

Another 10 would be developed by 2020, spanning 3,176ha, bringing the total number of zones in the provice to 29, he added.

"We will continue to perfect infrastructure, with a focus on electrical, water and road facilities, preparing fresh lands and human resources, and fostering investment promotion to further advertise the provincial investment environment," Loc said. Vinh Phuc pledged to create favourable conditions for investors and help them overcome any obstacles, he added.

According to the provincial competitive index (CPI) compiled by the Viet Nam Chamber of Commerce and Industry to measure the investment climate, Vinh Phuc consistently ranks among the top ten of the nation’s provinces, placing third in 2008. It ranked highly for transparency, proactive and creative leadership, and streamlining of procedures and inspections.