Economy

Bright Spot of Foreign Investment Attraction

THURSDAY, 29/10/2020 07:49:55

During the past tenure, all departments, divisions and sectors have drastically implemented tasks and solutions to improve the investment and business environment.


Over the past years, foreign direct investment enterprises have greatly contributed to the provincial socio-economic development. In the photo: Kefico Vietnam Co., Ltd. is one of the few high-tech enterprises in Hai Duong

Over the past years, foreign direct investment (FDI) enterprises have made great contributions to the provincial socio-economic development and FDI attraction continues to be a bright spot in the economic picture of the province.

Many projects with capital increase

The profile aluminum production project of LMS Vina Company Limited (100% Korean invested capital) in Dai An Expansion Industrial Park is one of the large scale projects investing in Hai Duong in the past term. In October 2017, the Provincial Industrial Zones Administration Authority issued the first investment registration certificate to this project. After 2 times of increasing investment capital, the project now has a total capital of more than 1,800 billion VND, creating stable jobs for nearly 700 employees.

Along with attracting new FDI projects, 2016 - 2020 was the period when many projects have focused on increasing investment capital and expanding production and business activities.

As a member of Hyundai Moto Group (Korea), Kefico Vietnam Company Limited in Dai An Industrial Park is one of the few high-tech enterprises investing in Hai Duong. During the past term, this company has increased its investment capital two times. Up to now, the enterprise has invested over 350 million USD to implement the project in Hai Duong.

According to the provincial Department of Planning and Investment, during the 2016 – 2020 period, Hai Duong has accepted 212 new FDI projects and nearly 200 times of FDI projects have increased capital to expand production. The total FDI invested in the province during the past 5 years reached nearly 2.8 billion USD. The scale of FDI capital is relatively equal, averaging 10 million USD/project.

Due to the influence of the Covid-19 pandemic, disbursement capital of FDI projects in 2020 has slowed down but this is still the period with the highest disbursement capital so far. In the 2016-2020 period, investment capital for implementing FDI projects increases by 75% compared to the previous period. Most of the projects have been quickly deployed and put into operation after being licensed.

Great contribution

According to data from the Provincial Statistics Office, the total FDI capital invested in the province up to 2020 has reached 8.8 billion USD, ranking 4th in the Red River Delta region and ranking 11th in the country. Over the past years, FDI enterprises have made an important contribution to the provincial socio-economic development.

In the past term, all the departments, divisions and sectors have drastically implemented the tasks and solutions to improve the investment and business environment. Some member indexes in the provincial competitiveness index have made certain progress. Hai Duong has mobilized many economic sectors to participate in investment and development. In total social investment capital, capital from the FDI sector increased sharply, accounting for 18.7% in 2015 to nearly 30% in 2020.

The key task of Hai Duong province in the coming period is to focus on developing high tech industries and supporting industries. Hai Duong will concentrate on attracting infrastructure investment in modern and synchronous industrial parks and industrial clusters; proactively and selectively attracting FDI capital; giving priority to projects with high technology level, new technology; efficiently using natural resources and making a great contribution to the budget. Along with that is to attach attention to the infrastructure planning  and development, to promote the administrative procedures reform and improve the business investment environment, to raise human resources quality and investment promotion effectiveness.

 

LAN NGUYEN

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