Hai Duong eyes $39m garment project
Regent Garment Co has received approval in principle from Hai Duong People’s Committee to develop its third garment production factory in the locality, at a cost of US$39 million.
Regent Garment Co has received approval in principle from Hai Duong People’s Committee to develop its third garment production factory in the locality, at a cost of US$39 million.
Located in Nguyen Giap Industrial Complex in Tu Ky District, the factory has designed capacity of 28 million products annually, creating 4,900 local jobs, online newspaper baodautu.vn reports.
Previously, the company – an affiliate of Hong Kong’s Crystal International Group – had built two similar factories in the province.
Based in Nam Sach Industrial Zone (IZ), the first worth $64 million, came into operation in 2006 while the second, valued at $124 million, opened its doors in Lai Vu IZ in 2014, providing 170 million products each year.
The province has attracted lots of investment in recent times, according to the provincial IZ Management Board.
As of October 2018, the province granted licences to 13 foreign-invested projects worth more than $103.3 million and approved additional capital of more than $318.6 million to 32 other projects.
During the period, it also licensed seven domestically-invested projects with total capital of VND642.6 billion, and revised five others up by VND71.53 billion.
This year, the locality plans to grant licences to 20 foreign-invested projects worth about $100 million and adjust the capital of 20 others by roughly $100 million.
Three domestic projects valued at about VND100 billion are also expected to be licensed, while nearly VND50 billion will be added to two other projects. — VNS
