VINH PHUC ATTRACTS OVER US$430 MLN OF FDI FUND IN H1, 2024

Vinh Phuc province licensed nearly US$436 million of foreign direct investment (FDI) fund in the first six months of 2024, up 28% year on year and nearly 9% higher than the target set for 2024.

Carrying out the action plan for implementation of the Foreign Investment Cooperation Strategy for the 2021-2030 period and the Strategic Investor Attraction Project to 2030, the province has this year presented and introduced local investment climate, policies, potential and opportunities; accelerated investment promotion via central and local media agencies; sent investment promotion documents to investors and Vietnamese embassies in other countries; and received and worked with many corporations seeking to explore investment policies and procedures such as Young Poong Group, META Investment Fund and Grandway Singapore Company.

Therefore, Vinh Phuc licensed US$435.8 million of FDI fund in the first six months, up 28% year on year and nearly 9% higher than the full-year target (US$400 million). Of the sum, nearly US$210 million was invested in manufacturing electronic products, computers and optical products. By the end of June 2024, the province had 473 FDI projects with US$8.3 billion of pledged capital.

Currently, 20 countries and territories have investment projects in the province. South Korea has the most investors, with 231 projects and more than US$3 billion of registered capital. These figures show that FDI flows into Vinh Phuc province continue to grow and set new records in the context of challenging economy.

Vinh Phuc province required all relevant bodies to effectively implement tasks and solutions for a better investment environment and stronger competitiveness to facilitate for businesses and investors to seek investment opportunities from now until the end of the year.

At the same time, the province has grasped investment situations and trends to have appropriate, flexible and timely solutions in investment promotion, appraisal, investment licensing and facilitation of foreign investors to boost production and business to support growth, budget revenue, job creation, and export expansion.

Source: VCCI