Investment attraction in 2018: many achievements


Resolution No. 37 of the Provincial People's Council on the socio-economic development plan in 2018 aiming to attract USD 250 million from FDI projects and VND 2.5 trillion from DDI ones. To achieve this goal, along with potentials, Vinh Phuc has promulgated many mechanisms and policies from the beginning of the year and effectively implemented investment promotion activities and taken care of investors.

According to the report of the provincial People's Committee, with the good signals of the economy, expected in 2018, in addition to the achievement in the total state budget revenue, Vinh Phuc will reach and exceed 13/14 economic indicators. Particularly, in terms of investment attraction, this is continuously year with many prospects when the investment of both FDI and DDI projects in the province is doubled compared to the target.

Specifically, it is estimated that in 2018, the province has attracted 92 investment projects, of which the new investment certificate for 35 projects and adjusted capital increase for 10 DDI projects, with a total registered capital of VND 5,57 trillion, up 97% in capital from 2017 and 82% compared to the plan; granting new investment certificate for 57 projects and adjusted capital for 33 FDI projects, with a total capital of US$ 450 million, up 80% compared to the plan.

The projects received new investment certificates such as project on expanding, raising the production of car of Toyota Vietnam, with a total investment capital of over US$ 75 million; housing for workers of Minh  Duc electronic printing Co., ltd and Fuchuan Co., ltd with US$ 51 million; infrastructure investment project of Minh Phuong Industrial Park with VND 156 billion; infrastructure investment of Dong Soc Industrial Park with VND 406 billion... that have been encouraged, prioritized and called for investment. When put into operation, they not only play important role contributing to increase the budget revenue, promoting the socio-economic growth, but also help the province resolve the problem of labor, especially urban labor area in the period of trying to become a new rural area by 2020.

According to Mr. Do Dinh Viet, Director of the Department of Planning and Investment at the 23rd provincial Party Committee meeting held on November 19, 2018, attracting investment into the province,  especially FDI attraction, was successful because the province always paid attention to improving the investment environment, renewing investment attraction, taking care of investors with the motto: "All investors in Vinh Phuc are Vinh Phuc's citizens "," The success of the business is the success and pride of the province ". In particular, through the investment promotion activities of the investment promotion delegation led by Deputy Secretary Tran Van Vinh in New Zealand and Australia in June 2018, and the other led by Chairman Nguyen Van Tri in Japan and South Korea ... investment environment of the province was widely promoted and sonce the beginning of the year, Vinh Phuc has welcomed many business delegations, investors around the world coming to survey the province's investment environment.

Towards the goal of becoming a modern industrial province, attracting investment is always a priority for the province to create resources for the socio-economic development. But the policy and strategy of attracting investment in Vinh Phuc are very clear, the province is willing to reject projects being not in industrial development planning and having high risks despite of prospects in budget revenue. The most obvious evidence is that the province recently issued a document proposed the Prime Minister refusing the US$ 350 million textile and dyeing project of TAL Group located in Ba Thien industrial zone because of the risk of environmental pollution, although previously Vinh Phuc approved one project and TAL Group investee and inaugurated the garment project on the occasion of Vinh Phuc celebrating the 20th anniversary of the re-establishment, providing the market millions of clothes per year and stable employment income for more than 2,200 employees.

To achieve the target of attracting USD 500 million from FDI and 3,000 billion dong from DDI in 2019, Vinh Phuc will continue to promote activities to improve the investment environment, expand the area and attract forms to potential markets and multinational companies. Along with that, improve the quality of the projects to attract new investment in the direction of increasing technological content, technical labor; prioritize to attract industries of the industrial revolution of 4.0 such as: ICT industry, digital technology, nanotechnology, bio-industry, new materials and competitive fields such as mechanical engineering, building materials, automobile supporting industries ... into industrial zones of Ba Thien, Ba Thien II, Binh Xuyen II and Thang Long Vinh Phuc. At the same time, attention should be paid to attracting investment from small and medium enterprises in the field of supporting industries and hi-tech industries.

 Thanh Nga (

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