Assa Abloy Smart Product Vietnam at Ba Thien Industrial Park

According to a report released by the Vinh Phuc Industrial Zones Management Board, in the first nine months of 2024, the board completed procedures for investment certificates for 37 new projects and 34 existing projects with a total registered investment capital of US$411.94 million and VND4,098.6 billion (US$170 million).

Specifically, the board licensed 26 new foreign direct investment (FDI) projects to invest US$179.43 million and 28 existing FDI projects to increase their investment capital by US$232.51 million. The agency also permitted 11 new domestic direct investment (DDI) projects to invest VND2,932.58 billion and six existing DDI projects to raise their investment capital by VND1,166.02 billion.

As of September 15, 2024, industrial parks housed 495 projects, including 119 DDI projects with VND38,822.71 billion of registered investment capital and 376 FDI projects with US$6.73 billion.

The board expected to license 3-5 FDI projects with a total registered capital of US$70-100 million in the last three months of 2024 (planned to license a project of Signetics soon) and 1-2 DDI projects with VND80-100 billion. Besides, the province saw 13 more projects start operations (including nine FDI projects with US$90-100 million and four DDI projects with VND500-700 billion).

To achieve these goals, The Vinh Phuc Industrial Zones Management Board will focus on localized investment promotion, engaging with businesses, preparing industrial zone infrastructure to attract investors, connecting with potential investors and corporations, enhancing foreign investment effectiveness per Resolution 50-NQ/TW, and targeting investment in key industries.

In addition, the board will coordinate with relevant agencies and localities to foster and strengthen the connection between FDI firms and DDI companies; encourage companies to boost business cooperation, transfer technology, convert from processing and assembling to design and manufacturing, increase added value, and create a foundation to entice and develop high-tech industries.

At the same time, the agency will effectively grasp investment situations and trends in the world and in the region, and create practical forecasts to have appropriate, flexible and timely solutions in investment promotion, appraisal and licensing and provide favorable conditions for foreign investors.