Vinh Phuc province lures nine new foreign-invested projects
The northern province of Vinh Phuc attracted nine new foreign direct investment (FDI) projects and permitted 17 existing ones to increase capital with a combined sum of over 88 million USD in the first five months of 2020.
Vinh Phuc (VNA) – The northern province of Vinh Phuc attracted nine newforeign direct investment (FDI) projects and permitted 17 existing ones toincrease capital with a combined sum of over 88 million USD in the first fivemonths of 2020.
Of the total, nearly 25 million USD were newly-registered capital while theremainder was added to the existing projects, equaling 25 percent of the figurein the same period of 2019 and fulfilling 27 percent of the yearly plan.
The province is now home to 301 FDI projects with a total investment of morethan 4.15 billion USD.
Vinh Phuc is an idealdestination for investors thanks to its geographical location and preferentialpolicies for investment attraction.
According to theprovincial People’s Committee, Vinh Phuc now has 18 industrial zones approvedby the Prime Minister with a total area of over 5,700ha. It is expected tohouse 21 industrial complexes on a site of nearly 500ha by 2020 and 31 ones coveringabout 700ha by 2030./.
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Vietnam attracted a total of 13.9 billion USD in FDI in the first five months of this year, a fall of 17 percent year-on-year, the General Statistics Office (GSO) announced on May 29.
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In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
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Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
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Illustrative image (Source: VNA) 
