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Binh Duong licences four new projects

Update: February, 16/2012 - 10:56

BINH DUONG — The southern province of Binh Duong yesterday granted licences to four new investment projects worth a combined US$174.7 million.

Among these projects was a $160 million tyre production factory, expected to supply one million of products each year, a Singapore-invested breeding project capitalised at $8 million and two other foreign-invested projects involved in wooden goods and construction materials.

Meanwhile, it also approved four existing projects increasing their levels of capital by $133 million.

The province would continue to foster administrative reforms, improve infrastructure and the quality of human resources to better facilitate investors, said the provincial People's Committee Le Thanh Cung during the yesterday ceremony.

Sun Steel Joint Stock Co general director Wada Yuji spoke highly on increasing assistance from the local authorities over past few years, saying that with these supports, the company decided to pump an additional $120 million to expand its production in the province.

In January alone, the province attracted eight new foreign-invested projects capitalised at $157 million and 65 domestically- invested projects with capital totalling VND3.5 trillion ($167 million).

The new addition has brought the number of foreign-invested projects to date to 2,000, totalling above $15 billion and almost 13,000 domestic projects worth VND95 trillion ($4.5 billion). — VNS

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