9 new investment projects in Vinh Phuc in the first quarter of 2021

08/04/2021

In 2021, Vinh Phuc keeps attracting investment with the motto of maximizing potentials and strengths to develop production and services, consistent with the actual situation, ensuring socio-economic development under the influence of the Covid-19 epidemic.

The province continues to innovate and improve the quality and efficiency of investment promotion, improve the quality of on-site investment promotion, strengthen the activities to support business development, and improve business investment environment with the aim of enhancing the competitiveness of the province. The Provincial People's Committee has implemented 11 solutions to carry out the investment promotion program in 2021. The program focuses on speeding up the work of compensation, site clearance and investment procedures so that the industrial parks would soon have clean premises for investors to easily choose and search for investment locations. 

Detailed planning of Song Lo II Industrial Park which is newly decided to invest by the Prime Minister

The result is, in the first quater of 2021, the province has attracted and newly issued 8 investment project with the total investment capital of USD 114.02 million. It also adjusted and increased the capital for 5 project with the registered investment capital of USD 32.21 million. Total newly and increased investment capital reached 146.24 million USD, increased by 211.01% over the same period in 2020. New foreign investment projects in the first quarter of 2021 mainly focused on electronics manufacturing (3/8 projects), auto and motor parts (2/8 projects) and other industrial products (3/8 projects). 

In addition to the growth in both the number of projects and the volume of registered capital in the foreign-invested sector, domestic investment projects in the first quarter of 2021 decreased. It is expected that 1 new domestic investment project would be granted with total investment capital of VND 38.1 billion; adjusted to increase the capital for 1 project with total investment capital increase of approximately VND 160 billion. 

The good news for the province's industrial development and investment attraction is that in the first quarter of 2021, the Prime Minister signed 3 Decisions on investment policy for the construction and technical infrastructure business project in Song Lo II Industrial Park. with the area of 165.66 ha; Thai Hoa - Lieu Son - Lien Hoa Industrial Park with the scale of 145.27 hectares and Tam Duong I Industrial Park, Section 2 with the scale of 162.33 hectares. It is expected that the 3 industrial parks will attract many large investors to develop the economic areas in the North of Vinh Phuc Province.

Duc Hien

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