Red River Delta’s industrial parks lures 390 FDI projects in 2023

Total new and adjusted investment capital in FDI projects reached US$13.17 billion last year, a year-on-year increase of 74.6% and VND99.1 trillion (US$4 billion) in domestic ones, a year-on-year hike of 107.1%. Localities with outstanding performances are Hai Phong, Quang Ninh, Bac Ninh, Thai Binh, Hai Duong, Hung Yen and Ha Nam.

The management boards of IPs, EPZs and EZs in the Red River Delta have proactively monitored the operations of enterprises with a view to promptly advising provincial and city People's Committees in the region on measures to remove difficulties for them and stabilise production and business, according to Tran Van Kien, head of Ha Nam IPs Management Board. Therefore, investment projects in the region have been implemented quickly, ensuring their progress and positively contributing to local socio-economic development.

Total revenue of FDI enterprises in the region's IPs, EPZs and EZ topped US$142.8 billion, up 20.5% compared to 2022 and that of the DDI business sector hit VND475.5 trillion, up 35.1%. They contributed US$8.48 billion and VND29.4 trillion, respectively, to the State budget last year.

The Red River Delta region is home to 11 EZs with a total area of 442,224 hectares and 179 IPs and EPZs with a total area of 49,348 hectares, of which 99 zones have been put into operation.

Kien said that this year the boards will focus on making recommendations for the design of investment policies suitable for each industry in order to attract quality FDI capital, and the organisation of investment promotion activities and policy dialogues with enterprises on measures to tackle difficulties facing them, especially those relating to administrative procedures and land issues.