Bac Giang province approves two FDI projects worth $132 mln

By Tri Duc
Fri, May 5, 2023 | 5:43 pm GMT+7

Bac Giang province in northern Vietnam granted investment certificates to two Singapore-invested projects on Thursday with total registered capital of $132 million to supply the solar energy industry.

Bac Giang Vice Chairman Phan The Tuan (center) grants investment certificates to two FDI projects in the northern province on May 4, 2023. Photo courtesy of Bac Giang newspaper.

Bac Giang Vice Chairman Phan The Tuan (center) grants investment certificates to two FDI projects in the northern province on May 4, 2023. Photo courtesy of Bac Giang newspaper.

Singapore-based HIUV Applied Materials Technology Investment Pte. Ltd was given an investment certificate for its $90 million project in Viet Han Industrial Park.

The 5.28-hectare factory is set to produce and export self-adhesive PET protective films, EAV films, silicone films, film materials, and plastic products and materials serving the solar energy industry, with a total annual output of 200 million square meters of products.

The project is set to become operational after 12 months, employing 300 people and paying corporate income tax (CIT) of VND44.5 billion ($1.9 million) yearly.

Yonz Technology Singapore Pte. Ltd received an investment certificate for its $42 million project in Yen Lu Industrial Park. The 10-hectare plant will manufacture and export aluminum frames for the solar battery manufacturing and assembly sector, with a capacity of 110,000 tons a year.

The plant is scheduled to enter operation after 24 months, employing 1,085 people and paying CIT of VND187 billion ($7.97 million) annually.

Speaking at the signing ceremony, Bac Giang Vice Chairman Phan The Tuan urged the two Singaporean investors to meet their timeframes with a focus on environmental protection and the application of high-technology.

In January, Bac Giang signed an investment certificate and memoranda of understanding for three foreign-invested projects.

Ingrasys (Singapore) Pte. Ltd. was approved as the investor and Fulian Co. Ltd. as operator of the $621 million Fulian precision technology factory.

Hainan Longi Green Energy Technology Co. Ltd. signed a memorandum of understanding (MoU) to manufacture solar panels with a capacity 3,500 MW per year and investment capital of $140 million.

Hong Kong-based Yadea Technology Group Co. Ltd signed an MoU to build a $100-million electric motorbike manufacturing plant. The 23.2-hectare project, located in Tan Hung Industrial Park, Lang Giang district, is set to start in the second quarter of 2023. It will have an annual capacity of two million motorbikes and employ 3,500 people.

In terms of new projects, Bac Giang was the most attractive FDI destination in Vietnam in the first four months of the year with 19 projects and total registered capital of $949.3 million, according to the Ministry of Planning and Investment.

In combination with additional capital for ongoing projects and capital contributions for stake acquisitions, the northern province attracted $1 billion in FDI in the period, tripling year-on-year.

The biggest overall figure of $1.71 billion belonged to Hanoi. Other top locations were Ho Chi Minh City with $979.7 million, the southern province of Binh Duong with $892 million, and the southern province of Dong Nai with $645.7 million.

While Vietnam’s index of industrial production (IIP) fell 1.8% from January-April, Bac Giang recorded an increase of 13.25%, according the General Statistics Office. The province’s growth was driven by a 14.38% rise in the electronics, computers, and optical goods sectors, 39.66% in electrical products, and 37.58% in beverages.

Comments (0)
  • Read More
Vietnam aims to finalize negotiations for Ninh Thuan 1 nuclear power plant by August

Vietnam aims to finalize negotiations for Ninh Thuan 1 nuclear power plant by August

The Vietnamese government targets completing negotiations for Ninh Thuan 1 nuclear power plant in former Ninh Thuan province (now Khanh Hoa) by August 2025, and for Ninh Thuan 2 by May 2026 at the latest.

Energy - Fri, August 8, 2025 | 4:18 pm GMT+7

Software giant SAP invests $175 ml in R&D center in Vietnam

Software giant SAP invests $175 ml in R&D center in Vietnam

German software heavyweight SAP has officially launched a research & development center in Vietnam, with plans to invest more than €150 million ($175 million) over the next five years.

Industries - Fri, August 8, 2025 | 3:43 pm GMT+7

Carlsberg’s $130 mln plant expansion in central Vietnam set to start brewing next month

Carlsberg’s $130 mln plant expansion in central Vietnam set to start brewing next month

The expansion of Carlsberg’s brewery in Hue city, central Vietnam, with an investment of over VND3.4 trillion ($129.66 million), has entered trial runs and is scheduled to officially come into operation in September, according to a Carlsberg Vietnam report.

Industries - Fri, August 8, 2025 | 2:43 pm GMT+7

Indonesia promotes nickel-based EV battery production

Indonesia promotes nickel-based EV battery production

Indonesia is advocating regulations to encourage electric vehicle (EV) manufacturers to switch from the commonly used lithium-based batteries to nickel-based ones.

Southeast Asia - Fri, August 8, 2025 | 1:54 pm GMT+7

BRICS countries account for over 35% of Malaysia’s total foreign trade turnover

BRICS countries account for over 35% of Malaysia’s total foreign trade turnover

Malaysia’s trade with BRICS nations climbed to RM818 billion ($193.47 billion) in 2024, making up 35.2% of the country’s total global trade, according to the Ministry of Investment, Trade and Industry (MITI).

Southeast Asia - Fri, August 8, 2025 | 1:52 pm GMT+7

Vietnam consumer finance major F88’s stock hits ceiling price on UPCoM debut

Vietnam consumer finance major F88’s stock hits ceiling price on UPCoM debut

The stock of F88 Investment JSC (F88), a leading consumer finance company in Vietnam, hit its ceiling price of VND888,800 ($34) on Friday, the first day of trading on the Unlisted Public Companies Market (UPCoM).

Companies - Fri, August 8, 2025 | 1:32 pm GMT+7

US tariff unlikely to dent Vietnam’s long-term FDI appeal: broker

US tariff unlikely to dent Vietnam’s long-term FDI appeal: broker

The U.S. tariff gap between Vietnamese goods and those from four other Southeast Asian countries would not erode Vietnam’s competitive edge in manufacturing and investment, said Hanoi-based Vietcombank Securities (VCBS).

Economy - Fri, August 8, 2025 | 12:24 pm GMT+7

Land clearance for Vietnam's North-South high-speed railway project to start on December 19

Land clearance for Vietnam's North-South high-speed railway project to start on December 19

Prime Minister Pham Minh Chinh has requested localities to start land clearance en masse for the gigantic North-South high-speed railway project on December 19.

Economy - Fri, August 8, 2025 | 11:52 am GMT+7

Vietnam might launch pilot digital asset exchange in August

Vietnam might launch pilot digital asset exchange in August

A digital asset exchange might be launched in August on a pilot basis, Deputy Minister of Finance Nguyen Duc Chi told a government press meeting on Thursday.

Finance - Fri, August 8, 2025 | 11:25 am GMT+7

Vietnam’s steel giant Hoa Sen spends $34 mln on land near Long Thanh airport for urban development

Vietnam’s steel giant Hoa Sen spends $34 mln on land near Long Thanh airport for urban development

Hoa Sen Group (HoSE: HSG), Vietnam’s top producer of coated steel products, has spent VND900 billion ($34.3 million) acquiring land for a major urban development project in the southern province of Dong Nai.

Real Estate - Fri, August 8, 2025 | 8:22 am GMT+7

Halal market presents major opportunities for Vietnamese businesses

Halal market presents major opportunities for Vietnamese businesses

The global Halal market is projected to reach $5 trillion by 2030, with Malaysia alone expected to hit $113.2 billion, said Shariza binti Abdul Rasheed, Halal product manager at Maybank Malaysia.

Economy - Thu, August 7, 2025 | 9:18 pm GMT+7

Steel major Hoa Phat to pour extra $130 mln into central Vietnam plant

Steel major Hoa Phat to pour extra $130 mln into central Vietnam plant

Vietnam’s leading steelmaker, Hoa Phat Group (HoSE: HPG), will increase investment in its Dung Quat 2 iron and steel production complex by VND3.4 trillion ($129.7 million) as part of an expansion plan.

Industries - Thu, August 7, 2025 | 8:03 pm GMT+7

Vietnam’s army-backed construction firm proposes 14 offshore wind power projects

Vietnam’s army-backed construction firm proposes 14 offshore wind power projects

Lung Lo Construction Corporation (LLC), under the Ministry of National Defense, has submitted investment proposals for 14 offshore wind power projects with a combined capacity of 9,000 MW.

Energy - Thu, August 7, 2025 | 5:07 pm GMT+7

Vietnam's agri major Hoang Anh Gia Lai fined for bond information disclosure failure

Vietnam's agri major Hoang Anh Gia Lai fined for bond information disclosure failure

Vietnam's agri major Hoang Anh Gia Lai JSC has been fined VND92.5 million ($3,528) for failing to disclose bond-related information as required by law.

Companies - Thu, August 7, 2025 | 4:31 pm GMT+7

Northern Vietnam province accelerates $2.2 bln LNG-to-power project

Northern Vietnam province accelerates $2.2 bln LNG-to-power project

Quang Ninh province will hand over 4.9 hectares of reclaimed land to the Quang Ninh LNG-fuelled power plant project before August 11, local authorities stated at a meeting on Wednesday.

Energy - Thu, August 7, 2025 | 4:17 pm GMT+7

Vietnam's seafood firms ride profit wave ahead of US tariff hike

Vietnam's seafood firms ride profit wave ahead of US tariff hike

Vietnam’s seafood companies reported surging profits in Q2/2025, driven by importers ramping up purchases ahead of new U.S. reciprocal tariffs.

Economy - Thu, August 7, 2025 | 2:21 pm GMT+7