Korean and UK firms granted investment certificates in HCM City

15:18 | 15/01/2015

 VGP – Chairman of the Ho Chi Minh City People’s Committee Le Hoang Quan on January 14 granted investment certificates to a firm from the UK and a firm from the Republic of Korea (RoK) for an expected investment of US$178 million.

Addressing the approval ceremony on January 14, Deputy Chairman of the municipal People’s Committee Tat Thang Cang vowed full support for investors by streamlining bureaucracy, fine-tuning legal regulations, and upgrading infrastructure.

The apparel producer Nobland Viet Nam under the RoK’s Nobland International Inc, registered a capital hike from $43 million to US$61 million, which will be used to scale up its operations and generate jobs for over 8,000 workers.

Meanwhile, an affiliate of the UK’s Gain Lucky Corporation, Worldon Viet Nam will build a fashion design centre and a factory on an area of 52ha to produce high-quality garment products. The company will build houses on 7 hectare for workers in Dong Nam industrial park (IP) in Hoa Phu commune, Cu Chi district with an estimated cost of US$300 million.
 
The City drew US$3.2 billion in both new and additional investment, with processing and industrial zones hosting 523 foreign projects worth nearly US$5 billion in 2014.

                                                                                                              By Ngoc Van