Binh Xuyen District has emerged as an investment magnet for foreign investors as more projects are put into operation in the area amid the COVID-19 pandemic, Vinh Phuc industrial zone authority reported.

Binh Xuyen District has become an investment hub in Vinh Phuc Province as it is home to seven industrial zones, namely Binh Xuyen, Binh Xuyen II, Ba Thien, Ba Thien II, Son Loi, Nam Binh Xuyen and Thang Long Vinh Phuc.

According to the report, Binh Xuyen Industrial Zone has led the province in attracting FDI with 84 FDI projects by September 30, amounting to a total investment of US$1.275 billion (occupancy rate of 92 per cent). Meanwhile, Ba Thien Industrial Zone managed to lure $886.72 million with 31 FDI projects (occupancy rate of 75 per cent), and Ba Thien II $875.64 million with 53 FDI projects (occupancy rate of 68 per cent).

The number of FDI projects attracted to Binh Xuyen II industrial zone was 57 in phase I with a total investment of $303.45 million (occupancy rate of 100 per cent). Thang Long Vinh Phuc industrial zone also saw an investment inflow of $720.76 million with 25 FDI projects, equivalent to an occupancy rate of 63 per cent.

The number of projects with valid licenses to operate in industrial zones in Vinh Phuc was 404 by September 15, consisting of 75 domestic direct investment (DDI) projects and 329 FDI projects with total registered capital of VND19.428 trillion ($853 million) and $5.378 billion respectively.

Regarding FDI projects, Vinh Phuc authority has granted new licenses to 24 projects and approved capital adjustments to 19 projects with total registered capital of $840.91 million and $88.08 million respectively.

FDI enterprises in Vinh Phuc have successfully overcome difficulties and maintained operation during the pandemic thanks to the province’s dual target. The province is striving to attract 5-8 more new FDI projects and three new DDI projects within the next three remaining months of 2021. — VNS