Central Vietnam province okays Hong Kong-invested $12 mln wood processing project

A VND315.6 billion ($12 million) wood manufacturing plant project, invested by Lehome International Co., Ltd. from Hong Kong, has received an investment registration certificate, contributing to increased FDI inflows into Gia Lai province’s industrial sector.

The certificate was issued by the Gia Lai Economic Zone Authority for Lehome International to implement the Gainshine Vietnam Interior and Exterior Wood Factory project in the Nhon Hoi Industrial Park – Zone A, Dong Quy Nhon ward.

This is the first FDI project approved in 2026 in Nhon Hoi Economic Zone.

The project covers an area of nearly 6.3 hectares. Of its total investment of $12 million, the investor contributes VND78.9 billion ($3 million), while the remainder comes from mobilized capital.

The project aims to produce indoor and outdoor wooden furniture and provide factory leasing services for suitable industries in line with planning regulations.

It is expected to reach an annual production capacity of around 900,000 furniture products, along with 17,000 square meters of workshop space for lease.

According to the authority, the decision of a Hong Kong-based company to invest in Nhon Hoi Industrial Park – Zone A reflects the growing attractiveness of the local investment environment, driven by improved infrastructure, available industrial land, and supportive government policies.

The project also highlights that wood processing and furniture export industries remain highly attractive to international investors in the province, it said.

The project is expected to complete investment procedures in 2026, begin construction in 2027, and officially become operational by the end of 2028.

Authorities have requested the investor to strictly follow the committed timeline and project objectives, while complying with regulations on construction, land use, environment, and labor.

Notably, if the investor fails to implement or is unable to carry out the project within 12 months from the effective date of the investment certificate without a valid reason, the project will be terminated per regulations.

Lehome International was established in July 2015. Its legal representative is Li Weiliang, who serves as general director.

Gia Lai sees strong surge in investment attraction

According to the provincial Department of Finance, since the beginning of the year, the new Gia Lai, formed via the July 2025 merger of former Gia Lai and Binh Dinh provinces, has attracted 108 new investment projects, reaching 63.53% of the year's plan, with total registered capital exceeding VND128.28 trillion ($4.87 billion).

Compared to the same period in 2025, the number of projects increased by 157.14%, while total registered capital surged by 795.12%.

Of these, 106 are domestic investment projects with total capital of more than VND127.97 trillion, and two are FDI projects totaling VND315.85 billion (about $12.1 million).

By sector, industry leads with 43 projects worth over VND107.92 trillion ($4.09 billion), followed by construction and infrastructure with 14 projects worth more than VND8.4 trillion, and agriculture, forestry, and fisheries with 36 projects totalling over VND4.72 trillion.

Trade, services, and tourism recorded 11 projects worth over VND3.63 trillion ($137.7 million); real estate and urban economy had three projects worth over VND3.61 trillion; and information technology had one project worth VND250 million.

By location, 99 projects are implemented outside economic zones and industrial parks with total capital of over VND121 trillion ($4.59 billion), while nine projects inside economic zones and industrial parks account for more than VND7.29 trillion in registered capital.