Bac Giang welcomes two projects worth $700 million
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 People’s Committee granted the investment registration certificate for Singapore’s Ingrasys Pte.Ltd, the investor of the Fulian precision technology factory project, on January 2. At the same time, Fulian received the business registration certificate from the provincial leader.
The factory will cover an area of almost 50 hectares at Quang Chau Industrial Park in Bac Giang. The project's main objective is to manufacture electronic components, computers, and communication equipment.
Chinese investor Hainan Longi Green Energy Technology Co., Ltd. and Bac Giang Industrial Zones Management Authority signed an MoU. Accordingly, the Chinese investor will implement a project to produce solar panels with a capacity of 3,500MW per year.
The two projects have the total investment capital of $761 million. The construction of both projects will be implemented in the first quarter of 2023.
Chairman of Bac Giang People’s Committee Le Anh Duong said that the province would create the most favourable conditions for foreign investors. The province will mobilise to resolve difficulties for investors during their investment process.
In 2022, Bac Giang ranked ninth in the list of localities for foreign investment capital, with the total investment capital of $1.21 billion.
Bac Giang is a production hub of many large groups, such as Luxshares, Foxconn, and Honda. Along with the existing industrial zones (IZs), the prime minister approved investment plans to build two new IZs, the 300ha Yen Son IZ in Bac Lung district and the 123ha Phuc Son IZ in Tan Yen district.
Viet Han IZ will also expand by 148ha, ensuring sufficient industrial land for investors to build manufacturing facilities in the coming years.
