Courtesy letter of Chairman of Vinh Phuc People’s Committee

Mr. Le Duy Thanh – Chairman of Vinh Phuc People’s Committee

Dear investors,

Vinh Phuc province is located in Red River Delta, a key economic region of the North and Hanoi Capital with numerous national transportation routes running though Vinh Phuc province such as: roadway, railway and waterway. Vinh Phuc province is located closed to Noi Bai International Airport. Vinh Phuc is land of long-standing history and culture, with hundred of historic-culture vestiges inherent and well-known places. Vinh Phuc people are possessed of traditional fondness for learning, industriousness, smartness, dynamicity and creativeness.

With its social and economic advantages, since the reformation of the province until now (1997-2015), Vinh Phuc province has developed dramatically and attained great achievements. Its economy has continuously grown with high speed, reaching at 14,8 % per year on average 18 years (1997-2014). Economic structure has shifted toward an increasing proportion of industry-construction and services, reducing in proportion of agriculture, forestry and fishery products. Industrial production, budget receipt, Gross Regional Domestic Product (GRDP), Provincial Competitive Index (PCI) and Human Development Index (HDI) are often ranked in leading top ten provinces and cities all over Vietnam. In culture and social aspects, there are a lot of advances, spiritual and material life of the people is greatly improved.

Such above achievements have been made thanks to significant contribution of investors, enterprise in the province. Vinh Phuc province always exerts its strength to further improve its investment climate, improves the competitiveness of the province; to promote planning and investment preparation; to focus on land clearance and available land to the investor, provide essential infrastructure up to industrial zone barrier; to train human resource; to develop urban area, service, tourism; to resolve petitions and administrative procedures in one stop service; to quickly solve difficulties, obstacles for the enterprise ….in order to facilitate investor to trade effectively.

By the end of October, 2015, the province has attracted 801 projects, in which there are 202 foreign direct investment projects with total investment capital of US $ 3.253,72  million  and 599 domestic direct investment project with the total investment capital of 44.327,88 billion VND.

A lot of enterprises have been operating business effectively, redeemed capital quickly and expanded production scale in Vinh Phuc. Currently, a number of big economic groups have made their successful investment in Vinh Phuc such as Toyota, Honda (Japan), Piaggion (Italia), Prime Group (Thailand), Kinderworld (Singapore), Jahwa Vina (South Korea), Partron Vina (South Korea), Bang Joo Electronics (South Korea) …..

Vinh Phuc has defined its strategic target being industrial province in modern orientation in 2020 and try to become Vinh Phuc city as the plan approval by Prime Minister. Such target requires Vinh Phuc to exploit and promote all resources for investing in development, especially enterprise under economic sector. Up to now, the province has completed the master plan for Vinh Phuc urban up to 2030 and vision to 2050, there are 20 industrial zones with total area over 6000 hectares to 2020. Simultaneously, the province has developed urban and service in modern orientation. Vinh Phuc province gives preference to develop mechanical industry such as automobile and motorbike; supporting industry for assembly of electronic, automobile and motorbike spare part; high technology and electronic industry; construction and lightweight materials production industry; processing of agriculture, forestry, aquatic products; infrastructure development for industrial zone; Luxury hotel and entertainment, transportation, tourism, logistic services, education and training service; health care services. With the motto: “Investor in Vinh Phuc will be citizens of Vinh Phuc province” Vinh Phuc always welcome to foreign and home investor to invest in Vinh Phuc, and make joint-effort with them to build Vinh Phuc more and more prosperous and developed.

Wish you happiness and success!