Singapore headphone firm ups investment

Friday, Mar 08, 2019 05:57

Workers at the New Wing Interconnect Technology Co. — Photo

Singapore-invested New Wing Interconnect Technology Co in northern Bac Giang province has raised the investment capital of its project by US$110 million.

With the latest addition, the plant, which manufactures headphones and wires, will have total investment capital of $210 million, becoming one of the largest foreign-invested projects in Viet Nam in the first two months of this year, reports.

Covering more than 60,000sq.m in the Van Trung Industrial Zone, the plant manufactures nearly 225 million products each year.

In the two-month period, Bac Giang lured $125 million in foreign investment capital (FDI), ranking 12th among 63 localities nationwide in terms of FDI attraction, statistics from the Foreign Investment Agency showed.

As of February, the province was home to 434 foreign-invested projects, with combined investment capital of $4.96 billion, as per the data.

It strives to attract $1-$1.2 billion in investment by the end of the year.

To this end, the province will continue improving the investment climate while strengthening support and handling obstacles for enterprises and investors to boost the production and business development and facilitate investment attraction.

Top priority for investment attraction will be given to transport infrastructure, energy, the development of industrial parks and clusters, key urban areas, and social infrastructure projects which are suited to the provincial socio-economic development plan.

The province will also welcome investment in supporting industries, hi-tech farming and production and investment in preservation and deep processing of farm produce for domestic consumption and export orientation to increase added value. — VNS

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