Vietnam’s Dong Nai Province green-lights 2 foreign-invested projects worth $30mn
Wednesday, July 12, 2023, 13:48 GMT+7
The People’s Committee of Dong Nai Province, a neighbor of Ho Chi Minh City, and the provincial industrial zone authority presented investment certificates to two foreign-invested projects, to be executed at a total cost of US$30 million, on Tuesday.
Among them is the Ziehl-Abegg Vietnam plant project, which is set to cover nearly 14,000 square meters of land in the Nhon Trach 2 – Nhon Phu industrial park.
The project carries a price tag of $20 million and specializes in producing items backing ventilation systems.
The facility will be funded by Ziehl-Abegg SE, a German manufacturer of fans for ventilation and air conditioning applications, and control technology.
The project marks a key milestone for the firm to do business in Vietnam, Joachim Ley, representative of Ziehl-Abegg Vietnam, said, adding that it is expected to suit the soaring demand of customers.
The second project is an HKC Vietnam technology factory. The plant, whose investor is China’s HKC Overseas Limited, is meant to focus on display component manufacturing and smart display solutions.
The plant is projected to cost $10 million and be built in the Nhon Trach 2 – Loc Khang industrial park.
Speaking at the certificate handover event, Nguyen Thi Hoang, vice-chairwoman of the Dong Nai People’s Committee, said that such massive foreign-invested projects would contribute to the province’s economic growth.
Hoang also told the two investors to heed environmental protection during their business operations to move toward green and sustainable industrial development.
She affirmed that the provincial administration always creates favorable conditions for investors, and improves the business and investment climate in the province.
As of July 5, the Dong Nai-based industrial parks had attracted over $682.7 million in foreign investment, reaching 97.5 percent of the province’s full-year target, according to the Dong Nai Industrial Zone Authority.
Of the total projects, 37 were newly invested with a total registered capital of $144.6 million, while 52 others had their capital added.
During the period, the province lured VND2.2 trillion ($92.8 million) in domestic investment, meeting 110 percent of the whole-year target.
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| Investors sign a cooperation agreement at a ceremony to grant investment certificates to foreign investors in Dong Nai Province, southern Vietnam, July 11, 2023. Photo: A Loc / Tuoi Tre |
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