Central Vietnam province to license 4 FDI projects worth $69 mln
The central province of Quang Ngai will grant investment certificates later this month to four foreign direct investment (FDI) projects worth $69.3 million and two project expansions worth $10.8 million.
Provincial authorities made the announcement at a Tuesday conference to review preparations for a December 23 ceremony to mark the 10th anniversary of the Vietnam-Singapore Industrial Park (VSIP) Quang Ngai.
VSIP Quang Ngai in the eponymous central province. Photo courtesy of Thanh Nien (Young People) newspaper.
One of the four new FDI projects will have South Korea’s Sedo Camping invest $31.8 million in a 10-hectare garment factory.
Hong Kong’s Yusee Industrial will invest $6 million in a 2.6-hectare plant for manufacturing fish tank accessories.
China’s Qingyuan Qingxin Xiaofeng Footwear Material Co. will invest $6.5 million in building a sportswear factory with an annual capacity of six million pairs and eight million accessories.
Zhongwang Fabric, another Chinese firm, will invest $25 million in a factory that will make garments and sofa covers.
Hong Kong’s Hong Kong Gesin Technology and Taiwan’s paper company Yuen Foong Yu will add a total of $10.8 million to their projects.
The $140 million VSIP Quang Ngai is the fifth VSIP in Vietnam. So far, the facility has attracted more than 35 investments worth over $1 billion. Of these, 26 have begun operations, employing 29,000 people.
VSIP, a joint venture between Singapore's Sembcorp and Vietnam's Becamex, said last September that it was planning to develop its second industrial park in Quang Ngai. The $161-million project, located in Binh Hiep and Binh Thanh communes, Binh Son district, is awaiting the Prime Minister’s approval.
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