Hoa Binh Koyuseni Knitting Company Limited in the Industrial Park on the left bank of Da river (Hoa Binh City) has been creating jobs for hundreds of the local employees.

The remarkable contribution

Sankoh Vietnam Co., Ltd. is located in the Industrial Park on the left bank of Da River, Hoa Binh City with the main production line of being finished resistors; wiring used for cars; air conditioners and laptops. In 2020, the company's export value reached more than 15 million USD; in 2021 it was more than 16 million USD; in 2022 it was more than 17.4 million USD. In the difficult context of the export businesses affected by the complicated developments of the world situation, especially the conflict between Russia and Ukraine that disrupted many supply chains, however, in 2023, the company still tried to reach the export valuew of about 14.5 million USD.

In addition to Sankoh Vietnam Co., Ltd., many other FDI enterprises have created "locomotives” pulling the value of the province's export turnover, the revenue and exports are higher than those of the previous years, such as in Luong Son Industrial Park COASIA CM Company is estimated to reach over 300 million USD by 2023; DoosungTech Vietnam Co., Ltd. is estimated to reach approximately 200 million USD; Esquel Vietnam Hoa Binh Garment Manufacturing Co., Ltd. is estimated to reach 80 million USD...

In the whole province, there are currently 37 foreign direct investment projects with a total registered capital of 608 million USD. FDI enterprises mostly come from Korea, Japan... with the concentrated investment in Luong Son Industrial Park, on the left bank of Da River and they mainly operate in the fields of electronic component assembly and garments. In recent years, FDI enterprises have made an important contribution to adding capital, transferring technology, promoting exports, developing human resources, and creating jobs for nearly 17,000 employees, mainly for the local people with an average income of about 7.5 million VND/person/month. In particular, FDI enterprises play an important role in the value of the province's export turnover.

In 2023, the province's export turnover is estimated to reach 1 billion 695 million USD, increasing 17.94% compared to that of the same period, reaching 100.04% of the year's plan. In particular, the electronic goods group and the textile and garment group account for the majority of the province's total export turnover, focusing on traditional markets such as the US, Korea, Japan, China, EU... Developing some new markets such as Canada, UK, India, Africa...

Promoting FDI attraction

According to Mr. Chu Van Thang, the Head of the Provincial Industrial Zones Management Board, there are many benefits from promoting exports of FDI enterprises. First of all, FDI enterprises are the ones who take the initiative to explore new markets, thereby, there is more information about new markets, contributing to stimulating "domestic” enterprises to develop production towards exporting goods. Secondly, FDI enterprises increasing exports will contribute to creating and developing Vietnamese goods brands in new markets, contributing to attracting investment.

R Vietnam Technical Research Company Limited is a 100% Japanese-invested enterprise, which has operated stably in Hoa Binh city for more than 20 years.

COASIA CM VINA joint Stock Company (Luong Son Industrial Park) has created many strong impressions in production and business activities, positively contributing to the budget revenue and creating jobs for the local employees.

Concretizing the Resolution of the 17th Provincial Party Congress, the Provincial People's Committee has issued a plan to develop the province's industrial parks for 5 years (2021 - 2025). Accordingly, the Provincial People's Committee set out the key goals and solutions such as increasing the synchronous investment rate in the technical infrastructure of industrial parks, the rate of the industrial park occupancy; creating many areas of clean land with infrastructure to attract large investment projects and investors with the potential and capacity; Effectively supporting the investors and businesses during the project implementation and production and business activities; the proportion of industry and construction is tried to accounts for 54% of the province's economic structure by 2025. The prioritize investment should be in the technical infrastructure in industrial parks with many favorable conditions for development such as Yen Quang, Binh Phu, Nam Luong Son, Lac Thinh. It is necessay to increase the occupancy rate of the established industrial parks to more than 80%. By 2025, the land area of the industrial parks and industrial clusters will account for about 1% of the province's natural land area (equivalent to 4,600 hectares)...

Mr. Chu Van Thang, the Head of the Management Board of the Provincial Industrial Zones adds: In the coming time, the Management Board of the Provincial Industrial Zones focuses on building mechanisms and investment incentive policies and the solutions to promote investment to attract investors in general, attracting the capable and experienced investors in the industrial park infrastructure to synchronously invest in infrastructure in industrial parks in particular. It is necessary to advise the Provincial People's Committee to lead and mobilize the participation of the entire political system, focusing on the drastic direction for site clearance work in the industrial zones.

It is important to focus on attracting the projects that are environmentally friendly, using land economically and effectively, contributing a lot to the budget, and creating many jobs for the employees. It is suggested to organize direct contact with the potential investors (the traditional investors such as Japan, Korea... new investors from Europe, America and large corporations and businesses in Vietnam) to invite investment in the industrial parks in the province.

The Management Board of the Industrial Parks of Hoa Binh province continues to accompany the businesses and commits to creating the most favorable conditions and environment for the businesses to invest, produce and do business in the industrial parks in the provincial area. The Board always considers the success of the business to be the success of the Management Board; The difficulties and problems of the enterprises in the industrial parks are the priority issues for coordinated resolution.

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