Binh Dinh province welcomes $42 mln wood processing factory

Tekcom Central Corporation, based in the central province of Binh Dinh, will invest over VND980 billion ($41.55 million) in a wood processing factory in the locality.

The project has been approved in principle by the provincial People’s Committee, according to the Binh Dinh Investment Promotion Center (IPC Binh Dinh).

It is the largest project Binh Dinh has attracted so far this year, covering more than 122,000 square meters in Phuoc My commune, Quy Nhon town. It will produce plywood, veneer and sawn timber.

The factory is designed to produce 34,617 cubic meters of plywood for flooring, 84,203 cubic meters of interior plywood, and 28,068 cubic meters of construction plywood per year.

Once operational in the first quarter of 2026, it will make a great contribution to increasing the province's industrial value, export turnover and budget revenue, while creating jobs for about 800 local workers.

According to director of IPC Binh Dinh Nguyen Bay, in the first two months of the year, Binh Dinh attracted 14 new projects with total investment capital of more than VND6,336 billion ($268.6 million), while two projects raised their investment capital by a combined VND2,710 billion ($114.9 million).

Local authorities said in 2023, Binh Dinh will focus on attracting investment in the key sectors of industry, tourism, high-tech agriculture, port and logistics services, and the urban economy.

In particular, the province will prioritize projects with economical use of land and energy, high and clean technology, added value, and sizeable contributions to the state budget in order to push sustainable and fast socioeconomic growth.