Hai Duong accompanies FDI businesses

FDI enterprises make important contributions to the provincial socio-economic development

Hai Duong has accompanied FDI enterprises for years to understand and share their difficulties for their role in the provincial development.

The province annually holds meetings and dialogues with FDI enterprises aside from promptly handling their requests and taking synchronous measures to improve competitiveness indexes.

The provincial authorities worked out remedies based on businesses’ proposals to harmonize the interests of all parties.

Ford Vietnam Co., Ltd. is one of the first FDI enterprises in Hai Duong province.

The company has had much outstanding success for nearly 30 years and is studying to expand production scale.

Ford’s Hai Duong Assembly Plant has an investment of more than 200 million USD and a maximum capacity of 40,000 cars/ year.

The firm sold 12,000 vehicles in the first four months of 2023 alone, a surge of 127% year on year.

Ford Vietnam is a key enterprise of the province in terms of contribution to the State budget for making up over 50% of the FDI sector’s payment.

It is providing stable jobs for more than 1,200 workers.

The enterprise’s production and business have been relatively smooth over the years thanks to the support and companionship of the provincial Party committees and authorities, according to plant director Tran Tien Duc.

“The province’s timely attention helps our company feel secure about investment and overcome difficulties, especially during Covid-19 outbreaks,” said Duc.

Ford Vietnam Co., Ltd. is one of the first FDI enterprises to invest in Hai Duong

Leo Paper Products (Vietnam) Ltd. started operation in An Phat high-tech industrial park, Hai Duong city, in 2019 with a total registered investment of nearly 1,700 billion VND.

The enterprise has so far commissioned six workshops and paid close to 17,000 billion VND to the State budget.

It is employing 2,250 workers with per capita income of more than 9 million VND/ month and actively contributes to social and humanitarian activities in the locality.

Director general of the company Gu Bao Hong was impressed with Hai Duong’s favorable geographical location and abundant labor resources. These are prominent advantages for the province to draw investors’ attention, Hong said.

Hai Duong has lured nearly 500 FDI projects from 26 countries and territories with a total registered capital of 9.3 billion USD, ranking 4th in the Red River Delta and 11th in Vietnam, according to the provincial Department of Planning and Investment.

94% of the registered capital was poured into processing and manufacturing as the main investment fields, and the rest into services and agriculture.

China’s Hong Kong is the largest investor, accounting for 40% of the total registered capital, followed by Japan with 16.3% and the Republic of Korea with 15.4%.

FDI has made up 35 – 40% of Hai Duong’s social investment structure in recent years.

FDI enterprises contribute more than 60% of the province’s industrial production value, having a part in promoting economic restructuring and improving industrial production capacity in the province.

They take the lead in export and international integration thanks to advantages in capital, technology, techniques.

These businesses have created jobs for more than 220,000 direct workers and thousands of indirect others, contributing to stabilizing and improving people's lives.

FDI enterprises always join hands with the province to take care of the community and society despite many difficulties during operation.

The provincial People’s Committee is holding a meeting between the provincial leaders and FDI enterprises in the locality on May 18 morning. The event features about 500 delegates, including guests from the Ministries of Foreign Affairs and Planning and Investment, the Vietnam Chamber of Trade and Industry, and the Association of Foreign-invested Enterprises, infrastructure investors, and FDI enterprises, among others.

DUNG CUONG