WoolProducers Australia to invest $66 million in Nam Dinh

WoolProducers Australia to invest $66 million project in Nam Dinh

The signing ceremony was organised in the framework of the investment promotion trip of Nam Dinh People’s Committee to Australia from May 28 to June 2. The investment promotion trip was organised by Nam Dinh People’s Committee in collaboration with the Consulate General of Vietnam in Sydney and the trade and investment promotion company DVL IPT.

According to the agreement, the WPA committed to investing AUS$100 million ($66.1 million) in Cat Tuong Group’s Rang Dong IP.

In addition, Nam Dinh People’s Committee signed an MoU on cooperation in building and implementing the province's growth strategy, with Saigon Telecommunications and Technologies Corporation and Australia Global Consulting Ltd.

Through the agreement, Australia Global Consulting Ltd. wants to cooperate with Nam Dinh to realise the ambitious targets relating to renewable energy development, green solutions and decarbonisation towards carbon neutrality.

As part of his visit to Australia, Pham Gia Tuc, General Secretary of Nam Dinh Party’s Committee and his delegation had a working session with representatives from Unified Capital Partners, an independent boutique provider of financial services, and the Australian Investment Network. He also attended a conference on Nam Dinh’s trade and investment promotion in the country.

They also organised a conference that attracted the participation of representatives from the Australian Department of Foreign Affairs and Trade, and nearly 100 enterprises, educational organisations and investors in Sydney.

General Secretary Tuc said that Nam Dinh hoped for more partners to invest in industrial parks, a green economy, and a circular economy.

Australian businesses proposed several cooperation initiatives with Nam Dinh in fields such as trade, infrastructure, education and training, green energy, circular economy, and other areas.

They also raised many questions related to legal procedures as well as difficulties they may encounter when investing in Nam Dinh and received appropriate answers from the provincial leader.

Pham Gia Tuc, General Secretary of Nam Dinh Party’s Committee

“Nam Dinh is a trusted investment destination of several big groups, such as Quanta computer manufacturer from Taiwan, and Toray Group from Japan. In addition, Hong Kong-based Crystal Group has unveilsed its plan to build a $200 million project for yarn, fabric, and garment production in the province," General Secretary Tuc said.

"The trust comes from the effort of the people’s committee and relevant sectors to approve the investment procedures as soon as possible. Normally, it takes only 24 hours for the province to approve the projects’ investment planning after receiving the legal dossiers, and the investors will not need to pay any unofficial service fees.”

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