Northern Vietnam province okays two China-invested projects worth $390 mln

Hai Duong province has approved two major direct investment projects of Chinese investors, worth a combined $390 million.

Deli, a major Chinese stationery business, received approval Thursday to invest $270 million to expand production on 21.2 hectares in the Dai An Industrial Park. The project’s annual output will include 104 million office supplies items made with paper and plastics; 22.5 million plastic home appliances; 33 million glue items; and 2.4 million personal computers, photocopiers, shredders, bar code scanners, electrical sockets, office accessories and educational items.

Boviet Solar Technology Co., Ltd., backed by China’s new material-energy firm Boway, also received approval Thursday for a $120 million, 20-hectare project in the Cong Hoa Industrial Park. Employing around 1,000 people, the project will manufacture solar cells and solar energy conversion modules totaling 3 GW a year, all for export.

The project will see its factory operational within 18 months of receiving the investment certificates, and run until April 2058.

Registered foreign direct investment in Vietnam hit $25.76 billion in the year to October 20, up 14.7% year-on-year, according to the Ministry of Planning and Investment. Hai Duong province was the 14th ranked locality in the country with $617.5 million.