Ninh Binh sees positive signals in investment attraction

The investment attraction in the past few years has achieved good results, with the number of licenced projects gradually increasing year by year. Most licenced projects are in line with the province's industrial development plan as well as its industrial zone planning scheme.

In 2015, the province granted investment licences to 21 projects with total registered capital of 32.67 trillion VND (1.41 billion USD). In 2020, it licenced six projects worth 1.11 trillion VND (48 million USD).

By March 15, 2021, the province had licenced 119 investment projects with a total registered capital of over 63.91 trillion VND (2.76 billion USD), including 30 foreign-invested projects worth 590.44 million USD.

Most of the projects are in large scale, with an average investment capital of 537 billion VND (23.1 million USD), and cover an average area of 5.6 hectares.

By 2020, each project had an average turnover of 563 billion VND (24.2 million USD), with an export value of 12.8 million USD, contributing 92.4 billion VND (3.9 million USD) to the state budget, and creating jobs for 336 workers.

Eighty-one out of the 119 valid investment projects were put into operation, 24 projects are under construction, eight projects behind schedule and six others have not been given land.

Many big firms have been operating well and gained big profits like CFG Ninh Binh floating glass factory (registered investment of 4.14 trillion VND); Vissai cement factory (1.14 trillion VND); Mcnex Vina Co. Ltd.'s module camera and electronic component plant (2.93 trillion VND); and Hyundai - Thanh Cong Group  with eight licensed projects (12.3 trillion VND).

Enterprises in the IZs have developed stably and fruitfully, and made increasing contributions to the province's socio-economic development, creating jobs for tens of thousands of local people, thus helping to shift the province's economic structure towards industrialization and modernization.

These businesses have annually generated 15 trillion VND (649 million USD) worth of industrial production, contributed 3-11 trillion VND to the state budget and provided jobs for nearly 40,000 local people.

Translated by Nguyen Thuy