Hai Duong attracts foreign investors

The northern province of Hai Duong has attracted US$2.56 billion in foreign investment so far this year, representing 23 percent of the entire nation’s total FDI capital, according to the provincial Department of Planning and Investment.

Malaysia’s Hai Duong Thermal Power plant is the largest FDI project in the region, operating via the Build-Operate-Transfer model at a total investment of US$2.26 billion.

Located in the Hanoi-Hai Phong-Quang Ninh Development Triangle, the province has great potential for developing many industrial and coastal service sectors including shipbuilding, iron production, power, port and logistics.

Currently, the province has 221 FDI projects from 23 countries and territories with a total registered capital of nearly US$5.2 billion, US$1.9 billion of which have already been disbursed.

Most major investors have come from Malaysia, Japan, Taiwan, mainland China, Hong Kong, Samoa, the Republic of Korea and the US.

Top priority is given to FDI projects that are large sized and highly competitive or use local materials. Projects whose products are used for support industry or export have also received preferential treatment.

Foreign invested enterprises (FIEs) have made an important contribution to modernizing local infrastructure and ensuring jobs with stable incomes.

Statistics show that FIEs last year generated US$1.77 billion in revenue, up 18.7 percent against the previous year. Of the total, more than US$1 billion came from exports, representing 96 percent of the province’s total export value.

FDI projects have created around 85,000 jobs, contributing US$97 million to the State budget, and 42.4 percent of the province’s total budget collection.

The province expects to attract additionally foreign investment in the next five years. Planning for 10 industrial zones, covering 2,086ha, has already received approval so far.

VNS/VOV

Tags: invest in Vietnam, Vietnam FDI, Vietnam FDI 2011, Vietnam investment