Vinh Phuc betters business climate to lure investments
The northern province of Vinh Phuc has worked to improve business environment and enhance provincial competitive capacity in a move to attract more foreign and domestic investments to the locality.
Inside a factory in Vinh Phuc province (Photo: dangcongsan.vn)
Vinh Phuc (VNA) – The northern province of Vinh Phuc has worked toimprove business environment and enhance provincial competitive capacity in amove to attract more foreign and domestic investments to the locality.
The provincial People’s Committee has given top priority to high-tech projectswhich are environmentally-friendly, make contributions to promoting technologytransfer, and help domestic companies to join global value chain.
Apart from removing bottlenecks for the investors, the province is paying dueattention to attracting investment from both traditional markets such as China,Japan and the Republic of Korea, member countries of the Association ofSoutheast Asian Nations (ASEAN) and countries who are members of free tradedeals like the Comprehensive and Progressive Agreement for Trans-PacificPartnership (CPTPP).
Infrastructure developers were asked to accelerate construction at industrialparks in August while the management boards of industrial zones, departments,and localities have been ordered to handle challenges arising at Lap Thach I,Lap Thach II, Tam Duong I, and Thai Hoa – Lien Son – Lien Hoa industrial parks.
According to reports from the management boards of local industrial parks, some235.32 million USD was poured into 40 new FDI projects while 244.79 million USDwas added to 29 existing projects in the first seven months of this year,doubling the capital registered the same time last year and surpassing the setplan by 71 percent.
Also in the January – July period, the province approved investment licensesfor eight domestic projects and capital adjustment for another one, worth 2.64trillion VND (113.6 million USD) in total, nine times higher than the sameperiod in 2018.
Vinh Phuc province is now home to 330 projects, 270 of which are invested byforeigners and have a total investment of over 3.6 billion USD. Of the totalprojects, 246 are in operation, five FDI are halting operation, while constructionand equipment installation are being made to 28 others, and compensation andland clearance are underway for the remaining 51.-VNA
A conference introducing investment opportunities in Vietnam’s northern province of Vinh Phuc took place in Potsdam city of Germany’s Brandenburg state on August 28.
A delegation from Vinh Phuc held several activities and meetings in the Czech Republic on August 29 and 30 to attract investment to the northern province.
The northern province of Vinh Phuc has reaped impressive achievements in attracting foreign direct investment (FDI) over the past three decades, thanks to favourable geographical location and determination to improve business environment.
A delegation from Vietnam’s northern province of Vinh Phuc has hosted a workshop in Washington, the US, to introduce investment opportunities in the province to potential investors.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
Inside a factory in Vinh Phuc province
