Construction of a VND360 billion (US$16 million) confectionery factory began Saturday in the central province of Nghe An’s Dong Hoi Industrial Zone. — VNS Photo

Construction of a VND360 billion (US$16 million) confectionery factory began Saturday in the central province of Nghe An’s Dong Hoi Industrial Zone.

The Hai Chau 2 factory’s ground breaking ceremony was witnessed by Deputy Prime Minister Vuong Dinh Hue, baocongthuong.com.vn reported.

Invested by Hai Chau Confectionery JSC, the factory will have 10 production lines, providing 75,000 tonnes of products each year. It is expected to earn an annual revenue of VND1.7 trillion ($74 million).

Speaking at the ceremony, chairman of the provincial People’s Commitee Nguyen Xuan Duong vowed to faciliate the operation of the factory which is regarded as the company’s key project in the north-central region.

According to Business Monitor International (BMI), the nation’s confectionery sector has experienced a relatively high and stable growth rate and is forecast to earn revenues of VND40 trillion ($1.8 billion) in 2018. — VNS