Thanh Hoa attracts $5b investment

Thursday, Oct 24, 2013 17:01

A view of Nghi Son Island in central Thanh Hoa Province.— Photo

HA NOI (BizHub) — The central province of Thanh Hoa signed agreements and granted investment certificates worth about US$4.7 billion on Wednesday.

The signing was conducted at an investment forum in Nghi Son Economic Zone. About 800 domestic and international guests attended the event.

Under the agreements, Japan's Marubeni and South Korea's Kepco will invest about $2.3 billion in Nghi Son 2 thermal power project, which will have a capacity of 1,200MW.

Viettel will build the $174 million Tho Xuan-Thanh Hoa high-tech industrial park. Viet Nam Vegetable Oils Industry Corporation and Musimax Company will spend $71.5 million on a project to make cooking oil and oil products.

The province also granted a licence to Bao Duc Company, which will invest in a $1billion urban centre.

World Bank director in Viet Nam, Victoria Kwakwa, said Thanh Hoa province had potential for investment.

Kim Young Jin, CEO of Winners Vina Corporation, one of the leading apparel companies in South Korea said Thanh Hoa had abundant labour resources and open investment procedures. He said his company, which exports more than $40 million to the US market each year, planned to expand business operations in the province.

Chief Representative of the Japan External Trade Organization (JETRO), Atsusuke Kawada, said the province needed better transport, accommodation and living conditions for investors.— VNS

Comments (0)