Industrial Park in Vinh Phuc Province (Photo: Internet)
Vinh Phuc Province reported positive economic developments in the first eight months of 2024, with each month and quarter showing improvement over the last. This lays a solid foundation for the province to strive to achieve and exceed its development goals for the year.
Most economic indicators showed significant growth compared to the same period in 2023. Specifically, the industrial production index rose by 12.31%, marking six consecutive months of increase. Provincial budget revenue reached nearly VND 19,500 billion, equivalent to 61.1% of the estimate, a 9% increase year-on-year; of which domestic revenue exceeded VND 16,000 billion, up 10.5% from the previous year.
Total retail sales of goods and services revenue reached VND 51,486 billion, an increase of 8.82%. Export and import turnover also recorded positive growth of 19.88% and 31.63%, respectively, indicating a promising recovery in the province’s production situation in the last months of the year.
Notably, in terms of investment attraction, the province has recently attracted the attention of leading global and regional investors. Among them, a semiconductor investor in the Samsung supply chain has committed to investing, with the investment certificate expected to be granted in Q3 2024.
As of August 15, the province attracted nearly USD 500 million in foreign direct investment (FDI), surpassing the target for 2024, and VND 3,602 billion in domestic direct investment (DDI).
In the first eight months of 2024, the industrial parks in Vinh Phuc Province attracted 24 new FDI projects and 25 additional investment projects, with total registered and additional capital of USD 402.1 million, equivalent to 90% compared to the same period last year and reaching 115% of the 2024 plan.
The province also attracted nine new DDI projects and six additional investment projects, with total registered and additional capital of VND 3,060.53 billion, equivalent to 54% of the investment value compared to the same period last year and reaching 204% of the 2024 plan.
As of August 15, 2024, the industrial parks in the province have attracted 493 valid projects, including 117 DDI projects with a total investment of VND 37,784 billion and 376 FDI projects with a total investment of USD 6,742 million.
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