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|Hai Duong - illustration photo|
According to Hai Duong Planning and Investment Department, by February 2011 the province was home to 205 foreign direct investment (FDI) projects worth nearly $2.6 billion in total investment capital. The disbursed capital amounted to $1.6 billion (64 per cent of total). Foreign investors came from 23 countries and territories.
In respect to FDI project developers, Japan took the lead with 32 projects worth $719.8 million, representing 27.7 per cent of the province’s total FDI capital, followed by Taiwan with $647 million in total registered capital or 24.8 per cent of the province’s total FDI capital.
Other investors with more than $100 million in total registered capital include Samoa, South Korea, the US, China and Hong Kong.
In respect to investment fields, industry-construction was most attractive to foreign investors with 177 projects worth around $2.3 billion, equal to 88.5 per cent of the province’s total FDI capital.
Foreign invested enterprises (FIEs) contributed a great deal to key socio-economic growth achievements Hai Duong posted in the past year. Accordingly, last year FIEs generated revenue of $1.765 billion, up 18.7 per cent against 2009’s. Of this figure, $1.096 billion came from exports, representing 96 per cent of the province’s total export value.
FDI projects created stable jobs for 85,000 direct labourers and thousands of indirect labourers, and contributed $97 million to state coffers, making up 42.4 per cent of the province’s total budget collections.
FDI projects generated VND9.545 trillion ($461.1 million) in total industrial production value in 2010, making up 45 per cent of the province’s total.
“FIEs have contributed to bringing a face-lifting to the province. They help modernise local infrastructure and ensure labourers’ jobs with stable incomes,” deputy chairman of the provincial People’s Committee Le Hong Van said.
In the past years, the province authorities enacted lots of incentives and created an enabling environment to investors.
The Vietnamese government has given the go-ahead allowing Hai Duong to set the province’s industrial zone development plan until 2015 with vision towards 2020 which covers 18 industrial zones over 4,000 hectares. The detailed planning of 10 industrial zones with planned areas of 2,086ha had been approved.
Statistics show that Hai Duong’s industrial zones lured in 127 local and FDI projects with around $2 billion in total registered capital of which approximately $1 billion was disbursed. Occupancy rate averaged 60 per cent for industrial zones with available infrastructure.