ATTRACTING FDI IN THE FIRST 5 MONTHS OF 2021 IN HAI DUONG PROVINCE
According to the General Statistics Office, total foreign investment capital in Vietnam reached 14 billion USD at the end of May 20th, 2021, up 0.8 percent from the same time the previous year. This includes newly registered capital, adjusted registered capital, and the amount of capital contribution and share purchase by foreign investors.
Hai Duong province is located in the Red River Delta. The province has long been a leader in socio-economic development and strategies to attract foreign direct investment in recent years. The province as a whole has attracted USD 244.7 million in FDI by May 31st, 2021, up 12% from the same time in 2020. Hai Duong province attracted 10 new FDI projects with a total registered capital of 98 million USD, 22 times of increased-investment-capital-project with an additional capital of 139.2 million USD in the first five months of 2021, including 5 projects outside the industrial park (IP) and 17 projects within the IP.
Hai Duong Province
Source: Internet.
January 27th, 2021, Provincial People's Committees approved the investment policy of the project “General Glory Cosmetics Factory” by the investor General Glory Inc Limited with total investment about 20 million USD. The factory is built at Duc Xuong commune (Gia Loc district) that has the capacity to produce 25,600 tons of cosmetics, 8,500 tons of plastic products to partially serve cosmetic packaging; trading, importing and exporting, processing and packing cosmetics, toys and accessories; 5,900 tons of knitted products, crafts, stationery, cultural products, hoses, plastic products, printing, bamboo, rattan, wood, EVA, paper products...
With the numbers above, Hai Duong province is considered as a desirable investment site. According to the Hai Duong Department of Planning and Investment, the COVID-19 pandemic has had a direct impact on Hai Duong from early 2021, affecting the province's FDI investment as well. Administrative reform has been undertaken in the departments, branches, and municipalities.
FDI projects in Hai Duong have created added value which contributed to the economic growth, increased export value, and created jobs and stable incomes for hundreds of thousands of workers. With the goal of 2020-2025 period is to improve the investment and business environment as long as to attract big enterprises to invest in the province, in 2021, Hai Duong province is continuing to promote domestic and foreign investment attraction, aiming at quickly and neatly settle administrative procedures related to the investment field for foreign investors’ projects.