09:40 | 27/07/2016 Economy
The northern province of Vinh Phuc has attracted 3.43 billion USD in foreign direct investment (FDI) with 222 projects as of mid-July, 2016, according to the provincial Investment Promotion Agency.
Toyota Motor Vietnam Co., Ltd makes great contributions to the state budget (Photo: vinhphuc.gov.vn)
Although ranking third among the locality’s largest foreign investors, Japan takes the lead in capital disbursement, business operation efficiency and contribution to local budget. Japan is running 26 projects valued at over 786 million USD in Vinh Phuc.
Since their establishment in Vietnam, Honda Motor Co.,Ltd and Toyota Motor Vietnam Co., Ltd have contributed more than 6 billion USD to the state budget while creating jobs for thousands of locals with stable incomes.
Meanwhile, Nidec Nissin Vietnam, Maruichi Sun Steel JSC, Exedy Vietnam Co., Ltd and Kohsei Multipack Vietnam Co., Ltd also show good performance.
Vinh Phuc province has recently granted investment certificate for Japan’s Sumitomo Corporation to develop infrastructure of the 213-hectare Thang Long Vinh Phuc industrial park. Once completed, the park will attract 79 secondary investment projects from Japan with a total registered capital of 1.5 billion USD and draw 25,000 local workers.
In a bid to lure more investments, the province has paid heed to improving local business climate, attracting resources for development while building essential infrastructure. Enhancing vocational training quality, mapping out plan for urban development and facilitating administrative procedures for investors are also given top priority.
Furthermore, the province has held talks with FDI businesses to promptly tackle their difficulties./.