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Vinh Phuc Province - Invesment attraction in Vinh Phuc province - Part 1 PDF Print
Thursday, 03 November 2011 10:09

Vinh_Phuc_Province_-_Invesment_attraction_into_Vinh_Phuc_2VIETRADE - 2008 was an eventful year: financial crisis, world economic depression strongly impacting Vietnam economy. However, it was considered as an important landmark to Vinh Phuc Province on its 12 - year – journey to attract vestment. The province drew in 124 domestic and foreign investment projects in 2008. There were 31FDI projects with 535.3m USD registered capital; this brought up the total FDI projects from previous time to the end of 2008 to 100, totaling 1.98bn USD registered capital. Paid up capital made up 30% of registered capital. Domestic investment projects (DDI) counted 93 at a total registered capital of 5,977.06bn VND, this much raised the total number of DDI projects at the end of 2008 to 265 with 15,500bn VND. Paid up DDI capital made 36.4% of the total registered capital. Therefore, in the past 12 years, Vinh Phuc attracted 365 investment projects with a total registered capital of nearly 3bn USD, of which there were 200 FDI projects at 1.98bn USD registered capital, 265 DDI projects at 15,500bn VND (upon separation of Me Linh District).


Implementation of ODA projects: presently, in the compass of the province, 8 projects have been undergoing implementation at 154.6mn USD capitalization. There have been several ODA projects in business operation; they significantly contributed to the improvement of the provincial infrastructures system and proved effectiveness. To note, 93m USD for improvement of Vinh Phuc investment environment (Japan), solid waste management and treatment, 93m USD (South Korea), Rural health care 15m USD (ADB), rural electrification 15.5m USD (World Bank), water supply, 5.3m USD (Italy), provincial road upgrading, 3.8m USD (ADB), professional training equipment, 2.5m USD (Germany). ODA fund disbursement in 2008 hit 157bn VND.

 

Industrial park development: Over the past 12 years, beside propitious geographical location, infrastructures, particularly communication-transport infrastructures, have been invested for development, development of the investment environment, underlying local resolution to development of industries, IPs. The province still holds land potential to develop large scale Ips, a special advantage over highly concentrated Ip regions such as Hanoi City, Hung Yen, Hai Duong Provinces which have land space limits.

 

Vinh_Phuc_Province_-_Invesment_attaction_into_Vinh_Phuc_2Actually there are, in the compass pf the province, 9 IPs covering 2.284ha which have been decided or authorized for establishment by the Prime Minister of the Government. To note, Quang Minh and Kim Hoa IPs (phase I) have filled occupancy of the industrial leased land, Khai Quang IP rating 74.1% occupancy of lease land, Ba Thien Ip 56.9% occupancy, Binh Xuyen II IP, 65.8% land occupancy. IP infrastructures are being invested for perfection construction. According development plans of IP in the compass of Vinh Phuc Province, in orientation to the year 2020, Vinh Phuc will build 14 more IPs in a 5,576ha land space, thus raising the total land space planned for IPs in 2020 to 7,860ha.

 

Investment structure in Vinh Phuc province: As of 2008 ending, there were 246 industrial projects comprising 90 FDI projects at a total investment of 1,765.7m USD making 88.89% of the total FDI investment capital, and 156 DDI projects at 9,532bn VND, making 62.75% of the total DDI investment capital. Trade and services attracted 75 projects, of which 5 FDI projects capitalized at 178.84m USD, making 9% of the total FDI capital, 70 DDI projects capitalized at 1,161.5bn VND, making 7.52% of the total DDI capital. Agriculture hosted 11 projects, of which, 5 FDI projects at 41.92m USD capital investment, making 2.11% of the total FDI capital, 6 DDI projects with 71.1bn VND, making 0.64% of the total DDI investment capital. The tourist and urban sector attracted 16 DDI projects capitalized at 3,962.6bn VND, making 25.67% of the total DDI capital investment. The education-training field had 9 DDI projects at 705.9bn VND, making 4.6% of the total DDI capital.

 
© 2011 Vietnam Trade Promotion Agency - VIETRADE
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