Bac Ninh grants investment licences to FDI enterprises

Saturday, Jan 26, 2019 07:54

Officials in Bac Ninh Province grant investment licences to investors. — VNA/VNS Photo Truong Diep

The People’s Committee of Bac Ninh Province on Thursday granted investment licences to six foreign direct investment (FDI) projects.

These projects include a factory manufacturing electronics, network equipment and multimedia products of Hong Kong’s Goertek Co Ltd in the Que Vo Industrial Park with total investment of US$260 million.

Others are a stationery factory of China’s Deli Group with total capital of $25 million in the Yen Phong Industrial Park, and a electronic circuit boards manufacturing factory of the Republic of Korea’s TSE Company with total investment of $19 million in the VSIP Bac Ninh Industrial Park.

The UK’s Cybertan Investment Corporation has poured $9 million into the production of wireless network modules, cable modems and television signal decoding equipment in the Dai Dong – Hoan Son Industrial Park. Meanwhile, Novatech Co Ltd injected $5 million into manufacturing products from magnets in the Que Vo III Industrial Park; and Anyone Co Ltd increased its capital to $50 million from $30 million to expand its project in the Que Vo Industrial Park.

At the licence ceremony, the provincial People’s Committee signed land use contracts with 10 businesses to build social housing on an area of 65.5ha with total investment of nearly VND11.98 trillion ($511.8 million). The construction is expected to be completed in 2020-30, accommodating some 33,600 workers.

Deputy head of the management board of Bac Ninh’s industrial parks, Nguyen Duc Cao, said after 20 years Bac Ninh now had 16 industrial parks with investment from 32 countries and territories.

As of 2018, these industrial parks had drawn 1,329 investment projects worth $17.83 billion. More than 900 projects have been put into operation, generating jobs for nearly 285,000 workers, bringing home $32 billion in export turnover, contributing VND11 trillion to the local budget and creating industrial production value of VND1.1 quadrillion. — VNS

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