Quang Ninh province approves 3 FDI projects worth $80 mln
Quang Ninh province in northern Vietnam granted investment certificates to three foreign-invested projects with total registered capital of $80 million on Wednesday, all in the manufacturing-processing industry.
Xiamen Sunrise Group Co.,Ltd., a top wheel manufacturing group from China, was given an investment certificate for its $55-million project to produce automobile rims using light metals. The smart project is located in Bac Tien Phong Industrial Park, Quang Yen town.
A representative of Quang Ninh Economic Zone Authority (right) grants an investment certificate to Xiamen Sunrise Group in Quang Ninh province, northern Vietnam on March 29, 2023. Photo courtesy of Quang Ninh newspaper.
Vietnam Lioncore Industries Co.,Ltd., a manufacturer of vinyl tiles and planks, received an investment certificate to build its second factory in the province worth $15 million. The plant is in Dong Mai Industrial Park, Quang Yen town, next to its $30-million first factory.
The Singapore-invested firm received an investment certificate to build the first factory in 2021, with a capacity of 108,000 tons a year.
South Korea-backed Samsong Vina Co.,Ltd. was delivered an investment certificate for its $10-million project to manufacture automobile safety belts in Song Khoai Industrial Park, Quang Yen town. The firm has already invested $10.61 million in building a factory in the northern province of Hai Duong.
So far this year, Quang Ninh province has attracted FDI of $494 million into industrial parks and economic zones, fulfilling 40.9% of the 2023 target of over $1 billion.
In February, Quang Ninh province granted investment certificates to Autoliv Vietnam to build a VND3.773 trillion ($160 million) automobile safety component factory, and to QST International Corporation and Boltun Corporation to develop an automobile component factory worth VND4 trillion ($169.67 million) in Bac Tien Phong Industrial Park.
Japanese firms are also looking at investments in the northern coastal province. In January, Tenma Corporation and Castem Co., Ltd. announced plans to invest $150 million and $14 million, respectively, to build factories in Song Khoai Industrial Park, executives of the two said to Quang Ninh acting chairman Cao Tuong Huy. Yaskawa Electric Corporation plans to invest $100 million in a 12-hectare factory also in Song Khoai Industrial Park, CEO Nobuaki Jinnouchi told Cao Tuong Huy at a meeting in January.
Earlier this month, the China-based Jinko Solar Co., Ltd., one of the largest and most innovative solar module manufacturers in the world, made a proposal to install rooftop solar power across Song Khoai Industrial Park.
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