Bac Ninh grants investment licenses to FDI firms

The People’s Committee of Bac Ninh province granted investment licences to six foreign direct investment (FDI) projects on January 24.
bac ninh grants investment licenses to fdi firms

(File photo: VNA)

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 260 million USD.

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

The UK’s Cybertan Investment Corporation poured 9 million USD 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 5 million USD into manufacturing products from magnets in the Que Vo III Industrial Park, and Anyone Co., Ltd increased its capital to 50 million USD from 30 million USD to expand its project in the Que Vo Industrial Park.

At the licence 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 11.9 trillion VND (511.8 million USD). 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 17.83 billion USD. More than 900 projects have been put into operation, generating jobs for nearly 285,000 workers, bringing home 32 billion USD in export turnover, contributing 11 trillion VND (473.2 million USD) to the local budget and creating industrial production value of 1.1 quadrillion VND (47.3 billion USD).

Source: VNA

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