FDI investment of Vinh Phuc Province in the first 9 months of 2015

Consequently, the number of projects and the investment capital newly registered in the first 9 months of 2015 significantly decline over the same period of 2014. However, the number of existing enterprises registered supplemental capital increase. To sum up, the total of newly registered and supplemental capital up to 20 September 2015 increases over the same period of 2014. It is indicated that the business and investment climate of Vinh Phuc Province is continuously improved and that the provincial government well implements local investment promotion, especially promptly removing difficulties for enterprises, creating favorable conditions for their effective production and business.

Until 20 September 2015, the total of FDI projects in Vinh Phuc is 199 projects with the total of registered capital of US$ 3,174.07 million from 15 countries and territories, including of 137 projects inside industrial zones with the investment capital of US$ 2,602.7 million and 62 projects outside industrial zones with the investment capital of US$ 571.37 million.

In the first 9 months of 2015, 21 FDI projects is granted for IRC or business registration certificate with registered capital of US$ 171.36 million, equivalent to 61.76% of the project number and 72.83% of the capital over the same period of 2014. The disbursement capital reaches US$ 213.95 million, increasing 25.8% YOY.

With respect to the nationality of Investors, in the first 9 months of 2015, seven (07) countries and territories have Investors registering their projects in Vinh Phuc Province. The Investors mainly come from South Korea (11 projects), followed by Chinese investors (04 projects, of which 02 Taiwan projects), India (01 project), Japan (01 project), Thailand (01 project), the Republic of Seychelles (01 project), Samoa (02 projects).

With respect to investment sector, in the first 9 months of 2015, 20 out of 21 newly-registered projects are in processing and manufacturing industries, such as: automotive-motorcycle manufacturing and assembly; engineering, manufacturing, automobile supporting industries, motorcycles; mechanical, engineering and supporting industries for automotive; textile; construction material production; other services and industries. Remarkably, most of the investors have been recently interested in textile, garment and footwear for exports and intended to invest on large scale to take advantage of TPP. For 9 months, Vinh Phuc Province has attracted 02 such projects with registered capital of US$ 33.7 million.

With respect to investment location, there are 14 FDI projects located inside industrial zones, including: Binh Xuyen Industrial Park (6 projects), Binh Xuyen II Industrial Park (3 projects), Khai Quang Industrial Park (3 projects), Ba Thien Industrial Park (1 project), Ba Thien II Industrial Park (1 project), and 7 projects located outside industrial zones in Binh Xuyen District, Lap Thach District and Tam Duong District.

In the first 9 months of 2015, the revenues from FDI projects reach US$ 4,916.70 million, increasing 32.75% YOY, equivalent to 72% of the year plan (which estimating the 2015 revenue of US$ 6,837.72 million). The State budget revenue reached US$ 702 million, increasing 15% YOY and is expected to reach US$ 915 million at the end of 2015, equivalent to VND 19,950 billion. Accumulated labor is now more than 59 thousand people, an increase of over 4.9 thousand people as compared with those of 31 December 2014 (including provincial citizens of approximately 42.1 thousand people, accounting for 73% of total labor).

The following major projects are issued with investment certificates in the first 9 months of 2015:

– Ceramic tile manufacturing plant of the Prime Group Joint Stock Company in Binh Xuyen Industrial Zone with the investment capital of over US$ 41 million.

– Tin Loi Footwear Factory of CD STAR Co., Ltd., in the industrial cluster and concentrated breeding area in Lap Thach Town, Lap Thach District with the investment capital of US$ 30 million.