Northern Vietnam industrial province licenses 5 FDI projects worth $140 mln

Vietnam’s northern industrial province of Vinh Phuc has granted investment certificates to five foreign-invested projects totaling nearly $140 million.

The licenses were awarded during a provincial investment promotion workshop held on Monday.

Specifically, the UTI VINA factory, a South Korean-invested project, received an investment certificate for its $35 million investment to manufacture and process protective glass for LCD screens used in mobile phones and tablets.

Among the awardees was Thai-invested Prime-Tien Phong JSC, which will invest in a $32.5 million factory for producing ceramic tiles.

Also, DST VINA 2, a Thai-invested project worth $27.5 million, will focus on manufacturing components and accessories for mobile phones, iPads, and laptops.

The South Korean-invested DKT Vina project aims to establish a $24.9 million factory for producing electronic components.

The M&K Vietnam Precision factory will specialize in manufacturing bicycles and vehicles for individuals with disabilities, with a total investment of $18 million from the UK.

Local authorities also granted in-principle approval to Singapore-invested Kinderworld Vietnam JSC for studying an international education-urban complex project in Vinh Phuc.

South Korea’s Imarket Vietnam Co., Ltd received in-principle approval to explore investment opportunities in an industrial park and golf course, slated for 2025.

At the event, the provincial government signed an MoU with BH Flex Vina Co., Ltd to expand its electronic component factory, with a total investment of $200 million.

Another MoU was inked with Japan’s Thang Long Industrial Park (Vinh Phuc) Corporation, signaling an intent to develop a $300 million industrial park.

As of end-November, Vinh Phuc had lured 481 foreign-invested projects valued at $8.4 billion in total, according to the local government.