Industrial parks attract more foreign investors
08:56, 2014/10/28
LG Electronics – the world’s second largest television manufacturer has unveiled a strategic plan to expand its operation in northern Vietnam.
Dang Thanh Tam, Chairman of Kinh Bac City Development Holding Corporation (KBC) said on October 26 that with further investment from LG, total foreign investment in 11 industrial parks (IPs) managed by KBC will reach US$ 2 billion in 2015, twice the expected figure.
The move has shown that Vietnam, especially its hi-tech field has become more attractive to foreign investors such as Samsung, LG, Nokia and Intel, who are seeking new outlets in Asia rather than China.
In the first nine months of the year, Vietnam has disbursed nearly US$8.9 billion in foreign direct investment capital (FDI), up 3.2% compared to last year’s corresponding period. The RoK, Hong Kong and Japan are the three largest investors in the country.
Currently, Vietnam has operated nearly 300 IPs and economic zones. According to the Ministry of Planning and Investment, in the first half of this year, the IPs attracted over 50% of total FDI in Vietnam, contributing more than 40% to total export turnover and generating 2.5 million jobs.
Vietnam aims to achieve an economic growth of 5.8% this year, the highest rate since 2011 from export and trade surplus.
In the first nine months of the year, Vietnam has disbursed nearly US$8.9 billion in foreign direct investment capital (FDI), up 3.2% compared to last year’s corresponding period. The RoK, Hong Kong and Japan are the three largest investors in the country.
Currently, Vietnam has operated nearly 300 IPs and economic zones. According to the Ministry of Planning and Investment, in the first half of this year, the IPs attracted over 50% of total FDI in Vietnam, contributing more than 40% to total export turnover and generating 2.5 million jobs.
Vietnam aims to achieve an economic growth of 5.8% this year, the highest rate since 2011 from export and trade surplus.
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