Attracting foreign investment: the key to developing Supporting Industry

In order to improve the efficiency of attracting, using and managing foreign direct investment, the People's Committee of Vinh Phuc province has set an orientation to attract investment focusing on the fields of agriculture, industry, services and development. infrastructure, projects with high science and technology content, friendly to the environment, making great contributions to socio-economic development; projects capable of participating in global value chains; projects in the fields of: electronics industry, telecommunications; mechanical industry (manufacturing and assembling automobiles, motorcycles...), building materials, new materials and supporting industries of the manufacturing and assembly of automobiles, motorcycles, and electronics; construction and development of industrial park infrastructure, service tourism projects, international-class universities; calling for investment in service industries such as finance, banking, insurance, healthcare, education and training.

The province focuses on attracting investment projects in industrial parks, improving occupancy rates in industrial zones/clusters. Associate industrial development with environmental protection; thoroughly handle the environmental pollution in industrial zones and clusters. To gradually form regional industrial centers. To encourage the attraction of supporting industry projects of the automobile and auto parts manufacturing and assembly industries. Besides, it is also oriented to attract investment by partners. Focus on attracting investment from countries with advanced science and technology that have been successfully investing in Vietnam and Vinh Phuc such as Japan, Korea, Taiwan, EU, USA...

In order to promptly implement the work of improving the investment environment, the People's Committee of Vinh Phuc province has issued documents such as: Plan No. 51/KH-UBND dated February 13, 2020 and Plan No. 49/KH-UBND dated February 13, 2020 March 8, 2021 of the Provincial People's Committee implements the Government's Resolution No. 02/NQ-CP on continuing to perform the main tasks and solutions to improve the business environment, enhance the international competitiveness. in 2020, in 2021.

As a result, in 2020, the total number of new foreign direct investment (FDI) projects in the province is 20 projects with a total registered investment capital of 475.8 million USD, 40 projects increased with with an increase in total registered investment capital of 201.3 million USD. Total newly and additionally invested capital reached 677.1 million USD, equaling 58.4% over the same period in 2019 and equaling 13.1% of the 2020 plan (USD 550 million). The total number of new domestic direct investment (DDI) projects in the area is expected to reach 47 projects with a total registered capital of 8,562.3 billion VND, completing procedures to increase capital for 13 projects with total capital. registered investment increased by 423.9 billion dong.

The total newly granted investment capital and capital increase was VND 8,986.3 billion, equal to 59.6% over the same period in 2019 and exceeded the 2020 plan (5,500 billion VND). In the first 6 months of 2021, the province granted 15 new FDI projects with a total newly attracted investment capital of about 124.2 million USD; increased capital for 13 projects with total increased investment capital of 53.5 million USD. Total newly granted and increased investment capital reached 177.7 million USD, equaling 97.3% of the same period in 2020, reaching 44.4% of the year plan (400 million USD). Most of the projects operate in the industrial and supporting industries.

Van Son (According to https://moit.gov.vn)