Thai Nguyen grants investment licence to Korean business

Tuesday, Sep 20, 2016 16:35

On behalf of provincial authority, Vu Hong Bac, Chairman of Thai Nguyen Provincial People's Committee grants ALK Vina JSC. their investment licence. — Photo
HA NOI (Biz Hub) — The People's Committee of Thai Nguyen Province granted an investment licence on September 19 to ALK Vina JSC, a Korean company, to open a factory at the Diem Thuy Industrial Park.

The project covers a total area of nearly 105,500sq.m., with total investment of US$75 million over the course of 50 years. The project involves the manufacture and assembly of electronic parts, construction parts, industrial molds and car, train and airplane parts, with total capacity of 36,000 tonnes per year.

The project will be implemented in two phases. The first phase is expected to be operational in 2017. The second phase will be from 2017 to 2020, focusing on stabilising and expanding production.

Thai Nguyen Province had been given permission by the prime minister to establish six concentrated industrial zones with an area of 1,420ha, namely Song Cong I, Song Cong II, Nam Pho Yen and Yen Binh, as well as Diem Thuy and Quyet Thang Industrial Zone, of which four have begun production.

During the first six months of 2016, Thai Nguyen Province attracted 15 projects, increasing the total number of projects to 151, consisting of 77 domestic projects with total registered investment of VND11 trillion ($492.3 million) and 74 FDI projects with total registered investment of $7 billion. — VNS


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