Vietnam’s Thai Binh province okays 3 FDI projects totaling $270 mln

Vietnam’s northern province of Thai Binh granted investment certificates to three foreign direct investment (FDI) projects with total registered capital of $270 million on Wednesday.

Taiwan-based Pegavision Corporation received permission for a $200 million lens factory. The 10-hectare plant is set to reap an annual revenue of VND2.8 trillion ($114.8 million).

Taiwan-invested Goodway Cayman Company Limited will invest $45 million in building a factory for manufacturing electronic items, connecting/converting devices, and others. The five-hectare project can gain an annual revenue of VND4.4 trillion ($180.4 million).

Meanwhile, China-invested Longstar Lighting Ha Mon Company Limited obtained an investment certificate for its $25-million project of manufacturing and assembling LED bulbs and components. Its four-hectare plant can generate an annual revenue of VND1.2 trillion ($49.2 million).

All three projects are located in Lien Ha Thai Industrial Park, invested by local business Green i-Park Corporation. With the three new investments, the corporation will exceed $1 billion in FDI attraction and help Thai Binh province reach the milestone of $1 billion in FDI in a year, said Thai Binh Chairman Nguyen Khac Than.

Speaking at the event, representatives of the foreign businesses lauded the conditions of Lien Ha Thai Industrial Park and the provincial authorities’ support for the projects.

Thai Binh’s index of industrial production (IIP) fell 2.8% from August to September, according to provincial data. However, the January-September IIP increased 12.6% year-on-year, driven by an 80.2% increase in the mining sector, 2.2% in the manufacturing-processing sector, 80% in electricity production and distribution, and 4.4% in water supply and treatment of waste and waste water.