Tag: Vinh Phuc

Provincial delegation visiting the US to introduce its foreign investment attraction policies.

Fields of priority in northern province include electronics, high-tech industry, and automobiles.

Northern province welcomes FDI of more than $1.6 billion in 2021-2022, equal to 80 per cent of the figure in the entire 2021-2025 period.

At a conference on the partnership between northern Vinh Phuc province and Japanese partners, provincial leaders affirmed that it considers Japanese localities and businesses as key partners in its international integration strategy. It has established special cooperative relations with Akita and Tochigi Prefectures, and as of May had 58 projects from Japanese investors with total capital of $1.62 billion.

The Vinh Phuc ICD Logistics Center, construction of which began on December 24, will be the first “superport” within a smart logistics network in the ASEAN region, on an area of 83 ha and with total investment of VND3.9 trillion ($170.7 million). The port will function as a Distribution Center (DC) and Inland Container Depot (ICD).

FDI attraction in northern Vinh Phuc province for 2021 as a whole is expected to stand at more than 250 per cent of the plan and increase 50 per cent year-on-year. Its growing appeal lies largely in its preferential mechanisms and policies. It plans to expand investment partners next year, especially major investors from the US and the EU.

Northern Vinh Phuc province is committed to creating the most favorable conditions possible for foreign investors and especially in the automobile sector. It is already home to major investors such as Toyota, Honda, and Daewoo Bus as well as hundreds of supporting manufacturers.