Vinh Phuc: A big opportunity for investors
The 1,371 square kilometer and 1.2-million-population Vinh Phuc province is located in the Red River Delta and next to Hanoi. Vinh Phuc has seven districts, one town and one city, which all include 152 communes, wards, and townships. National highways 2A, 2B, and 2C, the Hanoi-Lao Cai railway that goes further to China, national highway 18 that connects with the Hai Phong port and the Cai Lan deep-water port in Quang Ninh province go through Vinh Phuc. This in addition to a convenient waterway transport routes provide Vinh Phuc with favorable conditions in socio-economic development.
A corner of Vinh Yen City
Vinh Phuc is a mixture of plain, midland, and mountainous areas. It has the famous Tam Dao Mountain and Tam Dao National Park, which all have become renowned tourist sites in northern Vietnam. The province also has three golf courts (Dam Vac, Tam Dao, Dai Lai) that have attracted both international and domestic visitors.
In the Government`s plan, Vinh Phuc is part of the northern key economic zone while being defined as a center of auto and motorbike industry development. Vinh Phuc is also included in the Government`s national tourism development program. Vinh Phuc`s advantageous geographical location, its investment promotion policies, and investor trust have contributed to stimulating the province`s economic growth and made Vinh Phuc one of the three provinces ranking first among northern provinces in socio- economic development and investment attraction.
In 1997-2004, Vinh Phuc saw an economic growth of 16.6 percent per year, double the country`s average. Industry`s contribution to provincial GDP (Gross Domestic Product) increased from 14 percent in 1996 to 49.7 percent in 2004 while that of agriculture decreased from 52.5 percent in 1996 to 24.1 percent in the same period. Vinh Phuc ranked seventh among provinces nationwide in industrial production value while being one of the 10 provinces and cities reaching budget revenue of more than VND2 trillion per year.
So far, Vinh Phuc has attracted more than 400 domestic and foreign investment projects with a combined registered capital of over US$2 billion. These include more than 137 FDI (Foreign Direct Investment) projects from 15 countries and territories. The province has more than 2000 businesses of different kinds, and over 40,000 collective economic bases and individual trading establishments.
Vinh Phuc`s goal is to become an industrial province by 2015-2016 and a city by 2020. The province targets to make industry and services make up almost 90 percent and agriculture 10 percent of provincial GDP by 2015. The rate of urban residents in Vinh Phuc is estimated to reach more than 50 percent of provincial population by 2020. Vinh Phuc will manage to make the contribution of industry to provincial GDP reach 58.5 percent by 2010 and 50 percent by 2020.
Ba Thien IZ
Becoming a mechanical engineering center of the northern key economic zone is a goal of Vinh Phuc. It will give priorities to the development of the farm produce processing industry, aimed at improving the value and quality of provincial agricultural products. Vinh Phuc currently has 09 industrial zones with a total area of more than 2,200ha. The province will construct more industrial zones from now to 2010, taking the total area to over 5,000ha.
Vinh Phuc will try to increase services` contribution to provincial GDP to 30-35 percent by 2010 and 35-40 percent by 2020. It will also develop tourist and entertainment centers such as Tam Dao, Tay Thien, Dam Vac, and Dai Lai while planning and developing markets and trade centers in major urban areas in the province like Vinh Yen, Phuc Yen, Tam Dao, Binh Xuyen, Me Linh, and Vinh Tuong.
Vinh Phuc always considers businesses` success its success.
TRUNG TÂM THÔNG TIN - XÚC TIẾN DU LỊCH VĨNH PHÚC
Address: Khai Quang - Vinh Yen - Vinh Phuc
Tel: 0126.96.36.1997 - 2.211.657 Fax: 0211.3.710.647