The northern province of Ha Nam is optimistic about foreign direct investment (FDI) inflows despite the impact of the global economic downturn.

Radio the Voice of Vietnam (VOV) website quoted the provincial Department of Planning and Investment as saying that it has licensed 11 projects with a total capital of 78.4 million USD in the first half of the year, bringing the province’s total valid projects to 77 with a combined registered capital of 669.6 million USD.

Among major foreign investors, Japan and the Republic of Korea (RoK) have positively contributed to the province’s socio-economic development.

From 2001–2005, Ha Nam had only five projects licensed with a total capital of 7.5 million USD. Then, in the next five years (2006–2010), it saw the figure rising to 39 worth 267.8 million USD in total.

The largest include a 40 million USD project to build the FrieslandCampina Ha Nam milk factory, Sumi Vietnam Wiring System Co. Ltd’s 29 million USD project specialising in producing small wire car and motorbike harness cables, and Cargill Vietnam Co. Ltd’s 15 million USD livestock feed project.

Since 2011, Ha Nam has licensed 33 more projects with a total registered capital of 394.3 million USD.

In the first six months of 2013, the FDI sector generated around 15,600 jobs (up 15.4 percent) and contributed 12.5 million USD to the state budget, (up 27.8 percent), and earned 293 million USD in revenue (up 36.6 percent) compared to a year earlier.

Some of the newly-licensed projects include Myeongsung Vina Co. Ltd’s mobile microphone production project and Finetek Vietnam Co. Ltd’s touchscreen panel project in Phu Ly district and Keyrin Telecom Vietnam Co. Ltd’s advanced electronics manufacturing project in Duy Tien district.

Apart from Japan and the Republic of Korea, Ha Nam has also attracted a number of investors from the US, Australia, Holland, Singapore, and Taiwan.

The province is expected to welcome another 15–20 foreign investors with a total registered capital of around 120 million USD, generate an additional 18,200 jobs, and contribute around 24.9 million USD to the State budget by the end of the year.-VNA