Bac Giang grants licences to projects worth 132 million USD

Bac Giang grants licences to projects worth 132 million USD, At the ceremony (Photo: VNA)

Bac Giang – The authorities of the northern province of Bac Giang on May 4 presented certificates recognising investment registration to two Singaporean-funded projects worth 132 million USD in the local districts of Viet Yen and Yen Dung.

One of the projects is invested by the Singaporean-based HIUV Applied Materials Technology Investment Pte. Ltd and located at Viet Yen’s Viet Han industrial park. The 90-million-USD project, set to span some 52,803 sq.m. of land, aims to manufacture self-adhesive PET protective films, EAV films, silicone films, film materials, and plastic products and materials serving the solar energy industry.

After being operational following its 12-month of construction, the facility is expected to employ about 300 people and contribute to the State budget approximately 44.5 billion VND (1.89 million USD) per year.

The second is a 42-million-USD factory by the Yonz Technology Singapore Pte. Ltd. at the Yen Lu industrial park, Yen Dung district. Covering about 100,000 sq.m., it is designed to annually produce some 110,000 tonnes of aluminum frames for the solar battery manufacturing and assembly industry. Expected to be completed in 24 months after receiving the certificate, the plant will create nearly 1,090 jobs and annually contribute to the State budget approximately 187 billion VND.

Addressing the certificate handover ceremony, the investors said they hope to help perfect the solar energy ecosystem and contribute to the economic development of Bac Giang. They said they are committed to strictly comply with Vietnam’s laws.

Vice Chairman of the provincial People's Committee Phan The Tuan pledged the best conditions possible within the legal framework for investors.

Bac Giang now houses 493 foreign-invested projects valued over 9.1 billion USD.

Bac Giang welcomes two projects worth $700 million On the first days of 2023, the northern province of Bac Giang is welcoming two projects from Singapore and China with the total investment capital of $760 million.

Bac Giang province invests in developing transport infrastructure Besides State capital, the northern province of Bac Giang will attract non-State capital for investment in the field, particularly that from businesses to develop transport services infrastructure like inland waterway ports, bus stations, parking lots, and roadside rest stops.

Bac Giang earmarks 3.5 billion VND to encourage industry development The northern province of Bac Giang will earmark 3.5 billion VND (149,250 USD) to activities to facilitate industrial development in the province. The funds have been approved by the provincial People’s Committee.

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