Bac Ninh grants investment licenses to FDI firms

The People's Committee of Bac Ninh province granted investment licenses to six foreign direct investment (FDI) projects on January 24.

They include a factory manufacturing electronic, network equipment and multimedia products of Hong Kong's Goertek Co., Ltd in the Que Vo Industrial Park with total investment of USD 260 million.

Others are a stationery factory of China's Deli Group with total capital of USD 25 million in the Expanded Yen Phong Industrial Park, and an electronic circuit boards manufacturing factory of the Republic of Korea's TSE Company with total investment of USD 19 million in the VSIP Bac Ninh Industrial Park.

The UK's Cybertan Investment Corporation poured USD 9 million into the production of wireless network modules, cable modems and television signal decoding equipment in the Dai Dong � Hoan Son Industrial Park.

Meanwhile, Novatech Co., Ltd. injected USD 5 million into manufacturing products from magnets in the Que Vo III Industrial Park, and Anyone Co., Ltd. increased its capital to USD 50 million from USD 30 million to expand its project in the Que Vo Industrial Park.

At the license granting ceremony, the provincial People's Committee signed land use contracts with 10 businesses to build social houses on 65.5 hectares with total investment of about VND 11.9 trillion (USD 511.8 million). The construction of houses is expected to be completed in 2020-2030, accommodating some 33,600 workers.

Deputy head of the management board of Bac Ninh industrial parks Nguyen Duc Cao said after 20 years of developing industrial parks, Bac Ninh now has 16 industrial parks with investment from 32 countries and territories.

As of 2018, these industrial parks drew 1,329 investment projects worth USD 17.83 billion. More than 900 projects have been put into operation, generating jobs for nearly 285,000 workers, bringing home USD 32 billion in export turnover, contributing VND 11 trillion (USD 473.2 million) to the local budget and creating industrial production value of VND 1.1 quadrillion (USD 47.3 billion).

Source; People's Army Newspaper