The northern province of Hai Duong on Wednesday granted licences to two new foreign-invested projects, worth more than US$48 million.

The first – financed by the Hong Kong-invested Leo Paper Bags Manufacturing (1982) Limited – will focus on producing paper bags and cards. The $40 million plant covers 8ha in the Cam Dien-Luong Dien Industrial Zone in Cam Giang District and is scheduled to become operational in July 2021.

Meanwhile, the second, worth $8 million, will specialise in producing machinery and components related to audio amplification equipment. Invested in by the True Voice International Inc from the Republic of Seychelles, the plant is slated for completion in 2020 in Cong Hoa Industrial Zone in Chi Linh Town.

This is the firm’s second project in Hai Duong after a $5.1-million project in the Kim Thanh Distict-based Phu Thai Industrial Zone.

Addressing a licence-granting ceremony, Nguyen Manh Hien, Secretary of the Provincial Party Committee, said Hai Duong has emerged as an attractive investment destination and the two above-mentioned projects marked a good beginning for the province’s investment attraction this year.

Hien expressed hope that the two investors will help promote the provincial investment climate and opportunities.

In 2018, the Hai Duong Province lured more than $532 million in foreign direct investment (FDI), up 51.3 per cent year on year. Of the sum, $224 million came from 38 newly-licensed projects while the remainder of $308 million contributed by 36 existing ones raising their levels of capitals.

To date, total disbursement of foreign-invested projects in the locality jas reached $4.59 billion, 60.4 per cent of registered FDI. — VNS