Vinh Phuc Province woos Czech industrial investment
Vinh Phuc Province woos Czech industrial investment
Authorities from the northern province of Vinh Phuc have assured enterprises from the Czech Republic of favourable conditions for them when investing in the province.
The province introduced a list of 42 projects that have been calling for investment in several sectors under the forms of official development assistance (ODA), foreign direct investment (FDI) or public private partnership (PPP).
Chairman of the provincial People's Committee Nguyen Van Tri spoke at a workshop on investment opportunities in the province held in Prague, the Czech Republic on Monday. He highlighted the local favourable business environment, saying that it offers comprehensive infrastructure, skilled worker training, simplified administrative procedures and low-cost land, rent-free to foreign investors.
Vice Chairman of the provincial People's Committee Nguyen Kim Khai said the province ranked fourth in the provincial competitiveness index in Viet Nam. It has lured 221 foreign investors with a total capital investment of US$3.5 billion.However, there are no Czech businesses currently investing in the province. Khai expressed his hope that Czech firms would invest in mechanical manufacturing and supporting industries.
Vinh Phuc Province has been one of the country's centres for automobile and motorbike assembly. Support industries therefore play an important role.
It is calling for investment from Czech investors in support industries for automobile and motorbike assembly. In addition, it also welcomes investment in hospitals to reduce pressure on hospitals in Ha Noi. It is also looking for investment in a vocational training school for Vinh Phuc and neighbouring localities.
Meanwhile, the Vietnamese Ambassador to the Czech Republic Truong Manh Son provided an update on the development of friendship and economic cooperation between the two nations, while underlining Viet Nam's investment potential.
Vice President of the Czech Republic's Chamber of Commerce, Borivoj Minar, said a delegation of Czech firms planned to visit Vinh Phuc Province to expand co-operation.
Last week, the province's delegation, led by Tri, had a working meeting with representatives from the Embassy of Viet Nam, the Vietnamese People Association and the Viet Nam Business Association in the Czech Republic. The provincial leader called on Vietnamese expats to invest more in the locality.
