Chairman of management board of Worldon Vietnam Co., Ltd., left, receives investment certificate from Chairman of the HCM City People's Committee Le Hoang Quan. — Photo courtesy of HCM City People's Committee.

HCM CITY (Biz Hub) — The HCM City People's Committee approved the increase in investment capital of two foreign direct investment (FDI) projects.

The investors are Worldon Vietnam Co., Ltd of the United Kingdom's Gain Lucky Corporation, and Nobland Vietnam of South Korea's Nobland International Inc. On January 14, the committee granted investment certificates to the two companies, with an additional investment capital of US$178 million.

Worldon Vietnam will build a centre for fashion design and produce high-quality clothing products in an area of 52ha, and provide housing for workers in an area of 7ha. The investment of the project has increased by $160 million to touch $300 million. The centre will be constructed in the Dong Nam Industrial Zone in Cu Chi District's Hoa Phu Commune.

Nobland Vietnam revised its investment capital from $43 million to $61 million to expand the scale of production in its three factories in the Tan Thoi Hiep Industrial Zone in District 12. The firm produces more than 74 million garment products per year, and employs more than 8,000 workers.

Tat Thanh Cang, vice chairman of the committee, said that the city appreciates the efforts and contributions of international enterprises to bring advanced technologies into Viet Nam, as well as provide jobs to the local people. He said that the committee will create the most favourable conditions for companies through administrative procedure reform and infrastructure construction.

In 2014, HCM City attracted newly registered and additional investment of $3.2 billion. There are currently 523 FDI projects in industrial zones and processing zones with a total investment of $5 billion. — VNS