Manufacturing News 13/08/2024, 09:07

Vinh Phuc attracts 3 billion USD in FDI from Korean investors

Vinh Phuc province has attracted 238 FDI projects from South Korea, with a total registered capital of over 3 billion USD.

Vinh Phuc attracts 3 billion USD in FDI from Korean investors

Currently, Vinh Phuc province has 1,313 projects, including 472 FDI projects, with a total investment capital of over 8.3 billion USD, and 841 DDI projects, with a total investment capital of approximately 145,000 billion VND.

Notably, among more than 20 countries and territories investing in Vinh Phuc province, South Korea ranks first in both the number of investment projects and registered capital, with 238 projects and a total capital of more than 3 billion USD.

In the first 6 months of 2024, FDI inflows into the province remained high, reaching 435.8 million USD, up 28.6% over the same period last year and exceeding the target of the 2024 plan.

In the first 6 months of the year, the province granted new investment registration certificates to 8 Korean investment projects, mainly in the supporting and electronics industry, with a total investment capital of 17.5 million USD. Additionally, capital adjustments were made for 9 projects, with a total increased investment capital of 207.5 million USD.

Investment projects of Korean enterprises are primarily focused on manufacturing electronic components, automobiles, auto parts, textiles, electronics, and semiconductors - key industries in the province's investment attraction orientation in the coming time.

Several large Korean corporations and enterprises have increased their investment capital and operated effectively in production and business, such as Partron Vina Co., Ltd., in the Khai Quang Industrial Park, which increased its investment capital from 4 million USD in 2008 to 269.4 million USD in July 2024 to expand production of new products, especially electronic circuit boards, electric vehicle controllers, and ATN antennas for mobile devices, increasing the annual production capacity from 1.21 billion products to 1.57 billion products per year.

Heasung Vina Co., Ltd., specializing in manufacturing components for smartphone cameras, precision optical instruments, and action cameras, increased its investment capital over the past 13 years, from 13 million USD to 165 million USD, to expand its factory and manufacturing industry with lenses for Samsung smartphones, providing stable employment for over 4,000 workers.

In addition, other Korean enterprises such as Sindoh, Cammsys, Daewoo Bus, JH Vina, ShinWon, Vina Korea, ISC Vina, Solum, etc., are also planning to expand their industries, production scale, and consumption markets, creating jobs for tens of thousands of workers.

In Vinh Phuc province, there are currently 16 established industrial parks, of which 9 are in operation. According to the plan approved by the Prime Minister, by 2030, Vinh Phuc province will develop 27 industrial parks, with a total land area of 7,000 hectares, and 51 industrial clusters, with a total area of 1,700 hectares.

The province is actively implementing potential industrial park projects, notably the Nam Binh Xuyen Industrial Park (Green Park) project located in the high-tech planning area.

VietNam Finance / Translator: Hoàng Trúc
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