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New prospect of attracting foreign investment.
  22/04/2009 17:57:45 PM
From the beginning of this year, Hai Duong province has attracted 10 foreign direct investment projects (FDI) with the total capital of 98.5 million USD, five times as many as the projects and six times as much as total capital in the same period last year.

Especially, several major investors specializing in electronics, high-tech products from Japan, USA and Korea have invested in Hai Duong province. Out of 10 invested projects, 7 projects have been invested in Hai Duong province's industrial zone, total capital of 91 million USD. Several major enterprises are Brother Co., Ltd with total registered capital of 40 million USD specializing in facsimile machine, electronic equipments, Nissel Vietnam Technology Co., Ltd with total registered capital of 16.7 million USD (Japan)... 3 other projects have been licensed out of industrial zones with total invested capital of 7.5 million USD such as IQ Links Co., Ltd - 5 million USD - specializing in telecommunications equipments CDMA; Maklot T-VN Garment Co., Ltd (Taiwan) - 1.5 million VND specializing in exporting hat products... Besides, the province has amended investment licenses for supplement business targets, owner changing and increasing investment capital.

Currently, there are 92 FDI projects investing in Hai Duong province (69 projects out of industrial zone, and 23 projects in industrial zone) with total investment capital of 906.25 million USD, in which 56 projects has been operating. The most important reason of increasing investment capital is the stability of Vietnamese politics and incentives policies for foreign investment especially for attracting projects of high-tech sector investing in industrial zone in order to develop the industry of Hai Duong province. For the past several years, the People's Committee of Hai Duong province has organized many delegations to go to developed countries for investment promotion, especially to Japan. Simultaneously, the owners of industrial zones are active in calling and attracting investment and consulting the province to deal with difficulties of investors.

For the past several years, our country has been on the way of applying new law system on foreign investment, making a big difficulty for the whole country, including Hai Duong province, in the field of foreign investment capital attraction. Most of the foreign investors want to set up business along National No 5 to get favourable condition in goods transport. That makes a great challenge for calling for investment in remote area. In general, the infrastructure of Hai Duong province is not upgraded simultaneously. One of the problems for investors is the quality of infrastructure: water and power supply, transport road, labour skill and the living conditions of workers are not as good as they should be.

Early this year, several main products such as cement, electric wire and cable, foods for domestic animals and poultry have been maintaining their growth rate, but Ford automobile products have been sold slowlier in comparison with last year, making a reduce of the province's budget incomings. In order to make good this reduce, Hai Duong province continues to create conditions for entrepreneurs to push up investing, coming into operation, especially for Phuc Son Cement Company.

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