Nghe An woos five foreign-led projects worth $311 million

January 15, 2024 | 18:17

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At a conference on December 13 to announce Nghe An province's planning for the period towards 2030, six new projects in Southeast Nghe An Economic Zone worth a combined $390 million were granted investment policy decisions and registration certificates. The decision included five foreign-invested projects valued at $311 million.

Nghe An woos five foreign-led projects worth $311 million

Taiwan-based Radiant Opto-Electronics Corporation will invest $120 million to develop a factory at VSIP Nghe An Industrial Park (IP). Covering an area of 6.1 hectares, the factory will manufacture electronic components, including backlight modules, light-guide plates, brightness enhancement films, and moulded plastic frames.

Likewise, Hong Kong-backed Everwin Precision Technology Vietnam Co., Ltd. will build an electronic component and auto part manufacturing plant in VSIP Nghe An. With the total investment capital of $115 million, the project will spread across 16.5ha.

Another investor, Luxcase Precision Technology (Vietnam) Co., Ltd., under Singapore's Casetek Singapore Pte. Ltd., will build a $24-million factory to produce metal components at the same IP.

Other investors are licensed to invest in WHA IP, including the $32-million project by China's Fujian Xinfeng Technology and the $20-million project by Gaojia Optoelectronic Technology Co., Ltd.

Besides the foreign investors, one local firm, Hoang Thinh Dat Corporation, has received an investment certificate to build Hoang Mai II IP in Southeast Nghe An Economic Zone. With an investment of VND1.9 trillion ($77.54 million), the park will cover almost 334ha.

In 2023, the province lured over $1.6 billion in foreign direct investment (FDI) capital, up 66.8 per cent from a year earlier. Nghe An climbed to 8^th place among Vietnam's 63 cities and provinces in terms of FDI.

Vietnam's FDI story continues to blossom

Vietnam's appeal to foreign investors continued to improve last year, as did the quality of the foreign direct investment (FDI) the country attracted, according to a VinaCapital report that was released on January 9.

Vietnam attracts over 39,100 FDI projects with registered capital of nearly 469 billion USD so far

Vietnam had attracted 39,140 foreign direct investment (FDI) projects with total registered capital of over 468.91 billion USD by the end of 2023, reported the Foreign Investment Agency under the Ministry of Planning and Investment (MPI).

Ceremony to toast MPI's achievements

“Surpassing oneself is challenging, but the Ministry of Planning and Investment (MPI) has done it. I am sure it will continue to do it better,” Prime Minister Pham Minh Chinh proudly stated at the summarising conference on January 11.

By Thanh Van

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