Firms in Hoa Binh’s IPs create stable jobs for nearly 20,000 workers

7/7/2020 - 11:40:18 AM

(HBO) - Industrial parks (IPs) in northern Hoa Binh province are accommodating 95 investment projects, including 24 foreign direct investment (FDI) projects with a combined registered capital of 499.85 million USD and 71 domestic projects worth about 7.27 trillion VND (314.43 million USD).

Luong Son Industrial Park-based Vietnam Fragrances Ltd. Co., specialising in producing toothpicks for export to the Indian market, creates jobs for over 100 local workers.

In the first half of 2020, the impact of COVID-19 has dealt a blow to investment attraction in Hoa Binh. As a result, there were only two new projects licensed in the province’s IPs in the period, hitting 25 percent of the plan.

Businesses have overcome challenges to stabilise production, raking in 7.96 trillion VND in the first half of 2020, a year-on-year surge of 21.75 percent and reaching 53.07 percent of the yearly plan.

The firms earned 330 million USD in the reviewed period, up 31 percent compared to the same period last year and equivalent to 56.9 percent of the plan.

State budget collection saw a decrease of 15.8 percent to 88 billion VND in the first half, hitting 44 percent of the yearly plan.

At present, 55 projects have been put into operation and generated stable jobs for nearly 20,000 local labourers./.

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