Red River Delta attracts more foreign investment
Red River Delta attracts more foreign investment
The Song Hong (Red River) Delta region was able to attract US$5.68 billion in foreign-direct investment (FDI) in the first eight months of this year, accounting for 42.6 per cent of the total FDI that the country attracted.
According to the Foreign Investment Agency under the Ministry of Planning and Investment, the latest addition has brought the FDI pledged in the region to a total of $64.8 billion as of August 20, making it the country's leading region in this regard.
The region comprises 11 cities and provinces, including Ha Noi, Bac Ninh, Hai Phong, Quang Ninh, Hai Duong, Ha Nam, Hung Yen, Vinh Phuc, Nam Dinh, Thai Binh and Ninh Binh.
Among these reviewed localities, Bac Ninh Province topped the list with investments of $3.33 billion, accounting for 58.6 per cent of region's total FDI inflows in eight months, thanks to an additional $3 billion investment made by South Korea-invested Samsung Display Vietnam Co to expand its factory in the province's Yen Phong 1 Industrial Zone.
Licensed in 2014 with initial registered investment capital of $1 billion, the factory focused on research and development for manufacturing high-definition (HD) displays and assembling next-generation HD displays, including curved and foldable displays.
Ha Noi came second with $569.3 million, equivalent to 10 per cent of the region's total FDI, followed by Hai Phong City with $474.3 million or 8.3 per cent. Meanwhile, Thai Binh Province lagged behind other 10 localities as it attracted only $5.2 million, accounting for a modest 0.1 per cent of the foreign investments registered in the region.
