Northern Vietnam province attracts $166 mln investments from Boway, Waffer Technology

Mainland China's new material-energy firm Boway and Taiwanese alloy producer Waffer Technology plan to invest a total of $166 million in Hai Duong province.

Executives from the firms discussed their investments in Cong Hoa Industrial Park on Wednesday with Hai Duong authorities.

Solar cells, modules

Boway targets a first phase investment of VND2.82 trillion ($114.8 million) for a 20 hectare factory that will manufacture solar cells and solar energy conversion modules for export to America and Europe. One of the firm’s executives noted that they have already made investments in the neighboring province of Bac Giang.

Boway’s proposal for allocation of land to build rent-free housing for workers was accepted by Tran Duc Thang, Secretary of Hai Duong's Party Committee.

In August, Boway revealed plans to invest $350 million in Hai Duong, and is aiming to begin production next year.

Auto parts, repairs

Waffer Technology has proposed a VND1.25 trillion ($50.9 million) investment in a project to make auto components and repair machines. The plant will be able to export 10 million items to America and Europe every year.

Executives from both firms urged local authorities to support their investment certificates and the deployment of their projects.

Thang asked relevant agencies to work with the firms and grant investment certificates in November. He also asked the companies to cooperate with local vocational training schools and universities to develop suitable human resources for the projects.

The 201-hectare Cong Hoa Industrial Park has been developed by Hai Duong-based Vietnam Rubber Industrial Zone and Urban Development JSC with an investment of VND1.08 trillion ($45.4 million). A proposal to expand it to 350 hectares is being studied.

The facility has a prime location. It’s just 50-60 kilometers from Hai Phong seaport and Cat Bi airport in the northern city of Hai Phong; 75 kilometers from Noi Bai airport in Hanoi; and 73 kilometers from the China-connected Cai Lan port in the northern province of Quang Ninh