Prospects from large-scale FDI projects

Super project coming soon!

Recently, the Lite-On Quang Ninh Factory officially started construction in Quang Ninh, marking a large-scale foreign direct investment (FDI) project with a total capital of 690 million USD. Lite-On is a leading manufacturer of electronic components, supplying products to large corporations such as IBM, Sony, Samsung, Lenovo...

This project is being implemented in Song Khoai Industrial Park - Amata City Ha Long, part of the Quang Ninh Coastal Economic Zone, which is identified as the "core" and "new growth engine" of the western region of the province.

Quang Ninh has high expectations for this project, especially in the context that the province aims to achieve a GRDP growth rate of over 14% this year. The factory is expected to be operational in November 2025, making an important contribution to the province's industry and exports.

Mr. Shiro Sadoshima, Executive Advisor of AMATA Corporation PCL, said: “Lite-On's choice of Amata City Ha Long not only demonstrates its trust in Amata but also affirms Vietnam's position in the global electronics supply chain.”

Not only Lite-On, many large corporations are also stepping up their investment in Vietnam. SCG is a typical example. In a recent meeting with Prime Minister Pham Minh Chinh, Mr. Kulachet Dharachandra, General Director of Long Son Petrochemical Company Limited, said that the USD 5 billion Long Son Petrochemical Complex project has been completed and put into operation. Currently, SCG is promoting plans to invest an additional USD 400 million in the project.

In addition, many other “big guys” have also announced plans to invest heavily in Vietnam. Hyosung Group plans to invest an additional 1.5 billion USD in biotechnology and carbon fiber production projects in Ba Ria - Vung Tau. Warburg Pincus continues to expand its investment in Ho Tram, while also implementing a connecting route from Long Thanh Airport to Ho Tram with a total capital of up to 17,300 billion VND.

In addition, Saigon Asset Management (SAM) Investment Fund has launched the SAM DigitalHub Data Center in Binh Duong and is planning to raise $300 million for the Vietnam Data Center Fund. Notably, a technology “giant” is also preparing to announce a billion-dollar semiconductor project, demonstrating Vietnam’s strong appeal in the high-tech sector.

Mr. Bae In Han, General Director of Hyosung Dong Nai, shared: “Vietnam has a stable and favorable investment environment for business development.” He also emphasized Hyosung’s commitment to “putting a 100-year future in Vietnam”, demonstrating long-term trust in this market.

Lite-On Quang Ninh factory has officially started construction in Quang Ninh, marking a large-scale foreign direct investment (FDI) project.

Strengthening investment attraction in the new era

The Ministry of Finance plans to hold two important conferences on Friday (March 28) to attract foreign investment. They are the Conference on Capital Mobilization and Foreign Investment Attraction in the New Era: Opportunities and Challenges, along with the Conference on Building a Financial Center in Vietnam.

These events take place in the context of Vietnam continuing to promote investment attraction, especially in financial centers, with the goal of economic growth reaching 8% or more this year and aiming for double-digit growth in the coming years. Among the solutions to promote breakthrough growth, attracting investment in pioneering industries and building an international financial center plays a key role.

The commitment of global corporations to large-scale investments is a positive signal. However, the question is how can Vietnam attract high-quality capital flows in a sustainable manner?

At the conference on capital mobilization, representatives of the Ministry of Finance will present the orientation for attracting investment in the new period, and listen to opinions from investors on capital flow trends, opportunities, challenges and necessary solutions to catch the new wave of investment.

In recent years, Vietnam has made efforts to improve the investment environment, issued many preferential policies, established an Investment Support Fund and applied a “green channel” mechanism for key projects. These measures have been highly appreciated by investors, but there are still many issues that need further reform.

In recent meetings, foreign businesses continued to make many recommendations, such as establishing a one-stop mechanism to quickly resolve legal problems, tax incentives, tax refunds, or reforming administrative procedures to shorten decision-making time. Priority areas such as semiconductors, AI, and international financial centers also received much attention.

In response to these proposals, Prime Minister Pham Minh Chinh affirmed his commitment to creating favorable conditions for investors, with the principle of “not saying no, not saying difficult, not saying yes but not doing.”

In the upcoming conferences, many important policy messages will be announced, contributing to creating momentum for Vietnam to attract more large projects and high-quality FDI capital flows in the new period.

Source: https://baodaknong.vn/trien-vong-tu-cac-du-an-fdi-tam-co-247423.html