Many provinces and cities, as well as the central region of Vietnam, have recently become an attractive destination for foreign investors, according to experts.
In addition to the prominent northern places that attract foreign direct investment (FDI), such as Bac Ninh, Bac Giang and Thai Nguyen provinces, Thai Binh province in the Red River Delta has become a bright spot in terms of attracting foreign direct investment, the newspaper reported. Tuoi Tre.
The experts attributed the success to a strong improvement in Thai Binh’s investment environment and the province’s proximity to the Lach Huyen deep-water port cluster in Hai Phong city. The construction of a coastal road connecting Hai Phong and Thai Binh is also one reason.
###: Here’s How To Set Up A Foreign Invested Business In Vietnam
Last year, Lien Ha Thai Industrial – Urban – Service Park in the province attracted four projects with a total investment capital of more than USD 440 million, according to an expert.
There is a shift in FDI investment from two major centers around Hanoi and Ho Chi Minh City to the central region due to the advantage of many deep-water ports and cheap rents even equal to a third of those of the two cities.
It is expected that there will be a redistribution of the industry in the near future.
Once the investment climate has improved and infrastructure improved, this is expected to boost the attraction of FDI in the central region.
During the COVID-19 pandemic, there was a shift of labor from major economic centers such as HCM City, Binh Duong and Dong Nai provinces to the central provinces. The fact that many workers have not returned has led to a shift in the FDI trend to mitigate the risks of labor shortages.
“The pandemic has reshaped the investment trend at home and abroad. The available labor force will be an advantage for any place to attract investment,” the newspaper quoted Tuoi Tre as saying.
