Ha Tinh greenlights $2.5 billion Taiwanese project
Ha Tinh greenlights $2.5 billion Taiwanese project
The Ha Tinh People’s Committee has agreed in principal to license Taiwanese Wei Yu Engineering Company to develop an agricultural and a wharf construction project in the central province’s Vung Ang Economic Zone with the total investment capital of $2.5 billion, according to newswire Vnexpress.vn.
Notably, the Taiwanese investor will pour $1.5 billion into constructing five wharves on a total area of 96.8 hectares and $1 billion into the agricultural project, which includes an 800-hectare pig and chicken breeding area, a wheat flour and cooking oil processing complex as well as cattle food plants, and a food preserving warehouse.
Besides, it planned to construct a management building and an accommodation area for experts and engineers on 80ha.
Wei Yu Engineering committed to using high-technology and environmentally friendly technology in the production progress.
The Taiwanese investor requested the province to supply more than 1,000ha of land to implement the construction.
According to the Ha Tinh Department of Planning and Investment, the above projects are suitable with the province’s foreign investment attraction policy which lays priority on calling for foreign investments in the hi-tech agricultural sector creating numerous jobs.
Regarding the province, Ha Tinh approved to supply an 1,000ha area to the investor. However, the province requested Wei Yu Company to add specific environmental treatment solutions to its investment report.
In the upcoming time, the investor can carry out an area survey to build specific plans for the first phase and submit dossiers to the authority for the investment certificate.
Ha Tinh is one of the most attractive destinations for foreign investors. In the first five months of this year, the province attracted $148.24 million to five newly-registered projects and $138.8 added capital to existing projects.
Ha Tinh ranks second in attracting foreign direct investment (FDI) capital from Taiwanese investors. Notably, in the first five months of this year, Taiwanese investors poured nearly $200 million in newly-registered and added-capital projects in the province.
