Foreign-invested companies in northern Vietnam province see Jan-Sep revenue surge 12% to $7 bln

Foreign-invested enterprises (FIEs) in Hai Duong province posted estimated revenues of $7 billion in the first nine months of 2024, up 12% year-on-year.

Their export value jumped 35.4% year-on-year to $6.6 billion, while imports hiked 21.6% to $4.5 billion, according to the provincial Department of Planning and Investment.

During the nine-month period, foreign-invested firms contributed $400 million to the state budget, up 21% from the same spell last year.

Hai Duong province, located 50 km to the east of Hanoi, is currently home to 587 valid foreign-invested projects with registered capital of $10.6 billion, of which nearly $9.2 billion was disbursed. These FIEs have created some 230,000 direct jobs and thousands of indirect jobs.

This year, Hai Duong aims to attract $500 million in FDI and achieve $850 million in disbursed investments. The FIEs in the province target revenues of $9 billion and a state budget contribution of $500 million.

The province is projected to have 32 industrial parks covering 5,661 ha by 2030, including 12 operational ones and six under site clearance. Currently, it is seeking to develop two new industrial parks with a total area of 600 ha.

In late September, Deli Group, a leading stationery manufacturer in China, began construction on a $270 million plant in Hai Duong, marking its largest overseas project to date. The Deli Hai Duong factory will span 21.2 hectares at the Dai An Industrial Park and is slated to operate until January 1, 2073.