Northern Vietnam province licenses 4 Hong Kong investments worth $13 mln

Hai Duong province granted investment certificates to nine projects on Monday, including four invested by Hong Kong firms with a total registered capital of $13 million.

Korninghill Group Limited will invest $3 million in a plant at the Tan Truong Industrial Park that has an annual capacity of 1.68 million kid toys, 14.5 million plastic containers and office supplies, one million electrical appliances (hairdryers and electric toothbrushes), and 600 steel molds.

Hongkong Jia Ri Xing Limited will invest $4 million at the Cam Dien-Luong Dien Industrial Park. The firm’s facility will have an annual capacity of 950,000 transceivers and 3,000 tons of plastics beads.

Jiaxu Development Industrial Co., Ltd. will invest $2 million at the An Phat Hi-tech Park, aiming to manufacture10 million metal connectors, two million valve accessories, two million air pumps and accessories, and one million air pipe items each year.

Qizhen Industrial Co. Ltd will invest $4 million at the expanded Phuc Dien Industrial Park with the target of producing two million plastics home appliances, one million plastics components of carriages, and 2.4 million plastics components of electronics items every year.

Speaking at the investment certificate granting ceremony, Hai Duong Chairman Trieu The Hung said the province would focus on attracting investments in supporting industries, manufacturing-processing, electronics, food processing, construction, clean energy and high-tech industries.

In 2023, the province attracted foreign direct investments of $1.14 billion, a threefold year-on-year increase, Hung added.

Among the major investors in the province last year were two Chinese firms with a combined investment of $390 million - major stationery firm Deli and new material-energy firm Boway.