Northern Vietnam province attracts $90 mln investments from Singapore, US
Hai Duong province, a manufacturing center in northern Vietnam, has attracted two foreign-invested projects totaling $90 million.
Singapore-invested Sunshine (Vietnam) Leisure Products Company Limited will invest $60 million in manufacturing six million furniture items and one million thermal insulated mugs annually. The firm targets an annual revenue of $80 million.
The United States-invested New Star Co. Ltd. will invest $30 million in manufacturing and assembling 40,000 motorcycles and off-road motorcycles, 10,000 bicycles, and 1,000 electric vehicles and golf carts a year. The firm aims for an annual revenue of $50 million.
Dai An Industrial Park in Hai Duong province, northern Vietnam. Photo courtesy of Hai Duong newspaper.
Both projects, located in Dai An Industrial Park, are set to begin construction in 2025.
In the year to December 10, Hai Duong granted investment registration certificates to 50 new FDI projects worth a total of $410 million. It also okayed investment hikes of $270 million in 32 projects.
Hai Duong province, a neighbor of Hai Phong city and 50 kilometers to the east of Hanoi, is home to 642 FDI projects valued at $11.1 billion.
It is projected to have 32 industrial parks covering 5,661 hectares by 2030, including 12 operational ones and six under site clearance. Currently, the province is seeking to develop two new industrial parks with a total area of 600 hectares.
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