An foreign-invested producer of cattle feed from the Netherlands in northern Vinh Phuc province. (Photo: VNA)

Vinh Phuc (VNA) – The northern province of Vinh Phuc granted investment licences to five new FDI projects in the first two months of 2016, the Vinh Phuc Investment Promotion Agency (IPA) said on February 29.

The province also allowed other two operational projects to add capital, bringing its total FDI registered capital over the last two months to 60 million USD.

Most of the projects are in the fields of textile and garments, export-import and electronic component manufacturing. They are expected to create jobs for thousands of locals.

Vinh Phuc has focused its work on land clearance and infrastructure development for local industrial parks and clusters in order to meet basic demands of foreign investors.

It has also provided prompt support to create a better business climate for investors.

Last year the province approved a 1.5-billion-USD project by Japan-based Sumitomo Group to develop infrastructure in the Thang Long Vinh Phuc Industrial Park in Binh Xuyen district.

Nearly 80 projects from Japanese firms are scheduled to be built in in the 213-hectare industrial park once it is complete, providing employment for about 25,000 workers.-VNA