Quang Nam woos over $1.56 billion in investments

Quang Nam woos over $1.56 billion in investments

The central province of Quang Nam granted investment certificates and research agreements to several projects across its industrial parks (IPs) on March 5 worth over VND40 trillion ($1.56 billion).

Six ventures have been awarded investment certificates by Quang Nam. South Korean firms have received two of these, with Kyung Rim Tech Co., Ltd. set to fund an auto-parts assembly in Dien Nam Dien Ngoc IP worth VND146 billion ($5.7 million). Meanwhile, Oriental Commerce Vina Co., Ltd. will manufacture supporting products for the packaging industry in Tam Thang IP to the tune of VND186 billion ($7.3 million).

China's Standard Track Co., Ltd. will spend VND58 billion ($2.3 million) on building a household appliances factory in Tam Thang 2 IP, while Hong Kong-based Portillo Estudio Ltd. will construct a ready-built warehouse costing VND216 billion ($8.5 million) in Dien Nam Dien Ngoc IP.

Tucai SA from Spain also received an investment certificate to manufacture flexible connectors with an investment of over VND187 billion ($7.3 million). Likewise, Vietnamese corporation Thaco Auto was approved to develop its research and development centre valued at VND292 billion ($11.5 million) at Chu Lai Truong Hai Automobile Mechanical IP.

In addition, Quang Nam also signed agreements on investment research for four different initiatives.

Thaco will spend over VND7.2 trillion ($282.4 million) researching methods of dredging the Cua Lo channel to accommodate 50,000-tonne ships, while Capella Quang Nam JSC will inject over VND600 billion ($23.5 million) on infrastructure for the expansion of Tam Thang IP 2.

Meanwhile, Viet Phuong Investment Group will research investment in the infrastructure of Bac Thang Binh 1 and Bac Thang Binh 2 IPs, utilising more than VND6.5 trillion ($255 million), and Hoi An South Development Ltd will continue to invest more than $1 billion in Phase 2 of Hoiana Resort & Golf.

VIR