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THE LATEST LIST OF FOREIGN-INVESTED ENTERPRISES IN HA TINH 2023
According to statistics of the Department of Planning and Investment of Ha Tinh province, by 2022, the total newly registered and additional investment capital of FDI projects in Ha Tinh has reached more than 9000 billion USD. The main investment industries in Ha Tinh currently include steel production, power generation, seafood processing, tourism and real estate. In addition, Ha Tinh is also encouraging investment projects in supporting industries such as manufacturing electronic components, auto parts, medical equipment manufacturing,… Ha Tinh has also built many industrial parks and export processing zones to attract investors. Currently, the province has 23 industrial parks and export processing zones with an area of more than 5,000 hectares and more than 400 operating enterprises.
Currently, in Ha Tinh, there are 12 countries and territories investing in Ha Tinh. FDI projects here mainly come from Asian investors, especially Taiwan. with 39 licensed projects and registered capital of nearly 13 million USD
Advantages and disadvantages of FDI enterprises in Ha Tinh province
FDI (Foreign Direct Investment) has become one of the important factors contributing to Vietnam’s economic development in recent years. Ha Tinh province, located in central Vietnam, is not an exception in attracting investment capital from foreign investors. In the following, Siglaw will review these factors when making FDI investment in Ha Tinh.
Advantages of FDI investment in Ha Tinh province
Geographical location and transportation infrastructure: Located in the center of Central Vietnam, Ha Tinh has the advantage of transportation with a developed road, railway and seaport system. This makes the transportation of goods and import and export more convenient, thereby minimizing costs and transit time.
Economic development potential: Ha Tinh has many valuable natural resources such as minerals, renewable energy and abundant labor. This creates great economic development potential for the province, attracting the interest of foreign investors.
Preferential policies: In order to attract FDI, Ha Tinh province has applied a number of preferential policies such as import tax exemption for imported raw materials and production materials to produce export goods; exemption from import duty on equipment and machinery imported for the production of goods in the project; exemption from corporate income tax for the first 4 years and reduction of corporate income tax rate by 50% for the next 9 years.
Difficulties when investing FDI in Ha Tinh province:
Competition with other regions: In the Central region, Ha Tinh is not one of the top tourist destinations like Da Nang or Hue. Therefore, attracting tourists and tourism projects may face more difficulties than in other provinces.
Limitations on high-quality human resources: Although Ha Tinh has an abundant labor force, the quality of human resources is not satisfactory for some modern industries. This may reduce the province’s competition in attracting FDI projects with high requirements for human resources.
Lack of experience in managing FDI projects: Although there have been a number of successful FDI projects in Ha Tinh, the province still lacks experience in managing large and complex FDI projects. This may make it difficult to implement and manage new FDI projects.
Despite certain difficulties, FDI investment in Ha Tinh province still brings many opportunities and potentials for economic development for both investors and this province. With support from local authorities and preferential policies, Ha Tinh can become an attractive destination for foreign investors.
In order to attract more FDI projects to Ha Tinh, the province has implemented many support policies such as tax exemption and reduction, loan support with preferential interest rates, support for training high-quality human resources,… Here, Siglaw would like to introduce some FDI companies present in Ha Tinh:
- Formosa Ha Tinh Iron and Steel Company Limited
- Quan Wei Co., Ltd.
- A Tin International Company Limited
- A Dong Vietnam Company Limited
- Yueh Ta Iron and Steel Co., Ltd.
- Ha Tinh UP Company Limited
- Misubishi Corporation
- Samsung Group
- VFT Industry UG Company
- Vietnam Singapore Industrial and Urban Development Joint Stock Company (VSIP)
In order to increase the attraction of FDI into Ha Tinh, the provincial government needs to have preferential policies to attract FDI into large projects with modern technology to shift. strong local economic structure. And, based on the actual investment situation, to recognize the advantages to continue promoting and overcoming limitations to have solutions to overcome and increase competitiveness in attracting FDI with other provinces and countries. Thus, FDI capital into Ha Tinh is increasing, contributing to promoting socio-economic growth of the province and the whole country.
Above, Siglaw has introduced the list of FDI companies in Ha Tinh province. If there are any difficulties or problems related to FDI, please contact us so that we can answer best.
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