The northern province of Thai Nguyen with the issuance of of a licence to to Samsung Electro-Mechanics Vietnam Co., Ltd under Samsung Corporation of the Republic of Korea to add 920 million USD to its project, ranked second in attracting foreign direct investment (FDI) in the first two months of 2022, behind Bac Ninh.
Last year, Thai Nguyen granted new licenses to and approved the addition of capital for 27 foreign-invested projects with a total registered capital of over 1 billion USD, lifting the number of FDI projects in the locality to 170 valued at 9.67 billion USD. Meanwhile, it is now home to 800 domestic projects totaling over 143 trillion VND (over 6.25 billion USD). To promote investors’ confidence and attract more investment inflows, provincial authorities have focused on solutions to improve the investment environment, increase its provincial competitiveness and better the efficiency of foreign investment in the locality. Attention has been paid to developing transport and industrial infrastructure, expanding industrial parks and clusters, building database serving investment promotion.