Nghe An woos five foreign-led projects worth $311 million
Nghe An woos five foreign-led projects worth $311 million
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.
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 8th place among Vietnam's 63 cities and provinces in terms of FDI.
