Bac Giang grants licences to projects worth $132 million

Friday, May 05, 2023 12:20

Investors receive the investment registration certificates. — VNA/VNS Photo

Two Singaporean-funded projects worth US$132 million in the northern province of Bac Giang were granted investment registration certificates by the local authorities.

One of the projects, funded by HIUV Applied Materials Technology Investment Pte Ltd, is located in the Viet Han Industrial Park in Viet Yen District and is worth $90 million. This project will cover an area of approximately 52,803sq.m and is intended to manufacture self-adhesive PET protective films, EAV films, silicone films, film materials, and plastic products and materials for the solar energy industry. The facility is expected to employ around 300 people and generate roughly VND44.5 billion ($1.89 million) for the State budget each year after its completion in 12 months.

The other project is a $42-million factory by Yonz Technology Singapore Pte Ltd located at the Yen Lu Industrial Park in Yen Dung district. It will cover an area of around 100,000sq.m and is expected to annually produce 110,000 tonnes of aluminum frames for the solar battery manufacturing and assembly industry. The project is set to be completed in 24 months, after which it will create almost 1,090 jobs and contribute approximately VND187 billion to the State budget each year.

During the certificate handover ceremony, the investors expressed their hope to contribute to the development of Bac Giang's solar energy ecosystem and economy. They also stated their commitment to comply strictly with Vietnamese laws. Vice Chairman of the provincial People's Committee Phan The Tuan pledged to provide the best possible conditions within the legal framework for investors. Bac Giang currently hosts 493 foreign-invested projects valued at over $9.1 billion. — VNS

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