Vinh Phuc has reaped success in attracting foreign direct investment (FDI) for many years, and the source of FDI capital has become a driver of economic growth in the province.
The Japanese government will provide financial assistance for 23 tech-related cooperation projects between the country and Southeast Asian companies, the Yomiuri Shimbun of Japan reported on October 13.
A groundbreaking ceremony for an international conference centre in the northern province of Vinh Phuc, invested by property developer FLC Group, was organised in the locality on October 12.
Sales of automobiles in September increased 32 percent against the previous month to reach 27,252 units, the Vietnam Automobile Manufacturers’ Association (VAMA) reported on October 10.
With significant investment in building transport and industrial infrastructure as well as favourable mechanisms and policies in support of investors, Vinh Phuc is emerging as an attractive destination for Japanese businessmen.
The management board of industrial parks in northern Vinh Phuc province granted investment licences to 57 projects in the first nine months of this year.
Foreign manufacturers who have factories in Vietnam are increasingly looking for local parts suppliers to optimise their production costs, according to the Centre for Supporting Industries Development in HCM City.
Automobile sales in August were down 14 percent against July, to 20,655 units, despite the introduction of a range of promotional programmes, according to the Vietnam Automobile Manufacturers’ Association (VAMA).
The northern province of Vinh Phuc’s industry has been growing to become a key economic sector that contributes greatly to the local gross regional domestic production (GRDP).
Along with investing in building infrastructure and promoting production, businesses at industrial parks (IPs) in the northern province of Vinh Phuc are also focusing on sewage treatment and environmental protection to ensure the health and safety of workers.
The northern midland province of Vinh Phuc has reaped significant achievements in investment attraction thanks to its efforts in renewing methods in this regard.
Car dealers are offering huge incentives for customers to promote sales as the economic impacts from the pandemic persist and the lunar month of July is around the corner.
Sales of automobiles plunged 28 percent year-on-year to 131,248 units in the first seven months of this year, according to the Vietnam Automobile Manufacturers Association (VAMA).
Some UPCOM-listed companies are enjoying stable earnings brought by joint ventures they established with foreign partners, but their core businesses remain insignificant.
Several automakers are considering assembling their best-selling models in Vietnam due to the Government’s policy of zero import tariffs on components and a 50 percent reduction in registration fees.
Four Vietnamese men transporting 10 Chinese who illegally entered Vietnam through the border were arrested by police in the northern border province of Lao Cai on July 27.
The domestic automobile market is expected to thrive in the second half of 2020 after a long stagnation due to the COVID-19 pandemic, driven mainly by the Government’s great support and strong discounts from dealers.
Business
