RoK firm invests 8 million USD in Ha Nam

Friday, May 13, 2016 17:21

The Dong Van Industrial Park in Duy Tien District, Ha Nam Province. — Photo ndh

HA NAM (Biz Hub) – The northern province of Ha Nam on May 13 granted an investment licence to the HTC Group from the Republic of Korea (RoK) to build a factory producing home cleaning products and construction materials.

The factory, covering an area of 20,000 square metres in the Dong Van 1 Industrial Park in Duy Tien district, has a total investment capital of US$8 million.

Once operational in the next 12 months, the project is expected to create $5 million in revenue per year, generate about 120 jobs, and contribute VND1 billion ($43,000) to the local budget.

It is licensed to operate in a period of 50 years.

Speaking at the granting ceremony, Chairman of the provincial People's Committee Nguyen Xuan Dong affirmed that Hanoi will always stand side by side with investors so that they can operate effectively in the locality.

Industrial parks in Ha Nam are now home to 230 active projects. Of this figure, 131 were invested by foreign businesses, with a total registered capital of $1.3 billion.

Meanwhile, the remaining 99 domestic projects have a total registered capital of nearly VND10 trillion ($455 million).

Currently, the province has eight industrial parks that cover an area of 2,000 ha. The industrial park Dong Van III, which is under construction and geared towards the supporting industry, will apply its own mechanisms and policies. The locality has approved the plans for 18 industrial clusters, spreading over an area of nearly 500 ha. — VNS

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