Vinh Phuc (VNA) - A groundbreaking ceremony for an internationalconference centre in the northern province of Vinh Phuc, invested by propertydeveloper FLC Group, was organised in the locality on October 12.
Covering an area of over 2 hectares in Vinh Tuong district, the complexconsists of a 2,000-seat internationalconference centre, 200 five-star hotel rooms, an amusement park, a zoo zone, andvillas.
According to FLC vice-chairwoman Huong Tran Kieu Dung, the internationalconference centre will become one of the most modern projects in Vinh Phuc inparticular and in the country in general.
The multi-utility complex can meet the demands of resort tourism, entertainmentand outdoor activities.
It will serve as a venue for conferences, and art and cultural events, as wellas MICE (Meeting,Incentive, Conference and Event) tourism activities, thus promoting tourism developmentin the locality.
Vinh Phuc has been adestination of choice for investors, both domestic and foreign, amid theCOVID-19 pandemic.
At the end of June 2020, it was home to 392 foreign direct investment (FDI)projects with a total registered capital of 5.57 billion USD, according tostatistics of the locality. The projects were run by investors from 18countries and territories. The Republic of Korea has the most projects with210, followed by Japan, China and Thailand.
Many global groups have made their presence in Vinh Phuc, such as Toyota,Honda, Sumitomo from Japan, Piaggio from Italy, De Heus from the Netherlands,Daewoo, Haesung Vina, Partron Vina, Cammsys from the Republic of Korea, PrimeGroup from Thailand and Weldex from the US.
The province has also attracted 782 domesticdirect investment (DDI) with total investment surpassing 93.7 trillion VND(around 4 billion USD at current exchange rate). Several major Vietnamesecorporations have chosen Vinh Phuc for their investment, such as FLC, Vingroup,SunGroup, and Viet Duc Steel.
The flow of investment capital, both FDI andDDI, into the province in the first six months of this year decreased as aconsequence of the coronavirus pandemic. Total FDI capital in the period stoodat 135.6 million USD, equivalent to only 32.1 percent of the figure in the sameperiod last year. The money was poured into 14 new projects and 19 existingones.
Meanwhile, DDI capital attraction in the period came to 2.67 trillion VND,equivalent to 51.5 percent of the figure in the same period of 2019. Thecapital was pumped into 24 new projects and nine existing ones.
During the period of socialdistancing to curb the spread of the COVID-19 pandemic, agencies in Vinh Phuc stillmaintained their connections with investors through many channels, providingthem with consultations and latest information. The province has alsointensified online investment promotion activities, so as to attract investorsafter the pandemic is put under control.
Vinh Phuc has designated 18 industrial parks with a total area of 5,228 ha in amaster plan to 2020 approved by the Prime Minister. By now, nine industrialparks have received investment certificates. Industrial parks in Vinh Phuc havegood technical infrastructure and professional management, thus contributing toattracting investors to the province. They reported an average occupancy rateof nearly 62 percent.
Thanks to the province’s endeavours to complete infrastructure in industrialparks and a transport system connecting them, as well as efforts to improve thebusiness environment and reform administrative procedures, Vinh Phuc has becomemore popular among foreign investors.
The province reported a total industrial production value of 11 trillion VND inthe first six months of this year, down 9 percent year on year, which it blamedon the impact of the COVID-19pandemic. The output of most main products declines, such asautomobile down 24.8 percent, motorbike 14.4 percent, and electronic parts 7.7percent./.