Southern Vietnam province okays 2 FDI projects totaling $57 mln
Tay Ninh province on Friday granted investment registration certificates to two foreign projects worth a total of $57 million.
China-based Quanzhou Jiatai Shoes Co., Ltd. will invest $17 million in a 48.8-hectare factory to manufacture footwear products. It is set to begin operation in June 2025.
Singapore-incorporated Wellname Pte. Ltd. will invest $40 million in manufacturing fabric. The plant is set to begin operation in January 2026.
Both projects are located in Thanh Thanh Cong Industrial Park.
Tay Ninh Economic Zone authority grants two investment certificates to investors on November 22, 2024. Photo courtesy of Tay Ninh TV.
Registered foreign direct investment (FDI) in Vietnam totaled $27.26 billion in the first 10 months of this year, up 1.9% year-on-year, according to the Ministry of Planning and Investment. Tay Ninh ranked 18th among all localities with $497.7 million.
Apparel-textiles and footwear are key products of Vietnam. In January-October, the country’s export revenue grew 14.9% year-on-year to $335.59 billion, the General Statistics Office reported. The two sectors came in the fourth and fifth positions with $30.57 billion and $18.57 billion, respectively.
The country spent $13.07 billion on importing fabric in the period, down 11.1% year-on-year.
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