Northern Vietnam province promises land lease to Taiwan's $30 mln project in Sep
The Hung Nhan Industrial Cluster in Thai Binh province is striving to allocate land to a $30-million project invested by Taiwan-based Vanguard Millennium International in September.
QH Land Investment JSC, a local firm and the investor of the industrial cluster, made the commitment at a Wednesday meeting with Thai Binh authorities and Vanguard Millennium International.
The cluster is ready to complete procedures related to the land use right certificate for the tenant in October, it added.
Thai Binh Chairman Nguyen Khac Than (second, left) at a meeting with QH Land Investment and Vanguard Millennium International in Thai Binh province, northern Vietnam, August 21, 2024. Photo courtesy of Thai Binh newspaper.
The investment, called Prime Technology factory, will cover six hectares and has an annual capacity of four million household items made from metal, wood, and plastics. Most of the output is for export to the U.S.
Addressing the meeting, Thai Binh Chairman Nguyen Khac Than said he understood that QH Land Investment JSC's one-month delay in land allocation was derived from state policy changes. Than requested provincial agencies to work with the industrial cluster to solve remaining issues and deliver the land lot no later than early November.
Registered foreign direct investment (FDI) in Vietnam hit $18 billion in the year to July 20, up 10.9% year-on-year, according to the Ministry of Planning and Investment. Thai Binh ranked 13th among all localities with $430.2 million, doubling year-on-year.
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