Tuesday, October 15 2019

VietNamNews

Hải Dương licenses two foreign projects

Update: January, 04/2019 - 07:00
Leaders of Hải Dương Province grant an investment licence to representatives from the Hong Kong-invested Leo Paper Bags Manufacturing (1982) Limited. - VNA/VNS Photo
Viet Nam News

HẢI DUƠNG — The northern province of Hải Duơng on Wednesday granted licences to two new foreign-invested projects, worth more than US$48 million.

The first – financed by the Hong Kong-invested Leo Paper Bags Manufacturing (1982) Limited – will focus on producing paper bags and cards. The $40 million plant covers 8ha in the Cẩm Điền-Lương Điền Industrial Zone in Cẩm Giang District and is scheduled to become operational in July 2021.

Meanwhile, the second, worth $8 million, will specialise in producing machinery and components related to audio amplification equipment. Invested in by the True Voice International Inc from the Republic of Seychelles, the plant is slated for completion in 2020 in Cộng Hòa Industrial Zone in Chí Linh Town.

This is the firm’s second project in Hải Dương after a $5.1-million project in the Kim Thành Distict-based Phú Thái Industrial Zone.

Addressing a licence-granting ceremony, Nguyễn Mạnh Hiển, Secretary of the Provincial Party Committee, said Hải Dương has emerged as an attractive investment destination and the two above-mentioned projects marked a good beginning for the province’s investment attraction this year.

Hiển expressed hope that the two investors will help promote the provincial investment climate and opportunities.

In 2018, the Hải Dương Province lured more than $532 million in foreign direct investment (FDI), up 51.3 per cent year on year. Of the sum, $224 million came from 38 newly-licensed projects while the remainder of $308 million contributed by 36 existing ones raising their levels of capitals.

To date, total disbursement of foreign-invested projects in the locality jas reached $4.59 billion, 60.4 per cent of registered FDI. — VNS

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