VN Hai Duong province gets $122.5m FDI

Visual of the Dai An IZ from the official webstite

The Hai Duong Industrial Zones Authority on Saturday granted investment licenses for five new foreign direct investment (FDI) projects with a total registered capital of $41.55 million and at the same time accepted capital increases of $80.9 million for three projects.

Of the five new projects, animal feed group Leong Hup Feedmill Vietnam (owned by Malaysia) has the highest investment capital of more than $27 million, the VIR reported. Meanwhile, the largest increase belongs to Korean spare part producer Kefico Vietnam with $65 million.

Also read: Japanese city to increase investment in Vietnam

VIR cited a senior executive from Kefico, a Hyundai Motor’s unit, as saying: “As the operation of Kefico Vietnam in the Dai An Industrial Zone expands beyond expectation, Hyundai Motor has decided to double the initial registered capital, adding another amount of $65 million to $130 million.”

Nguyen Manh Hien, chairman of the Hai Duong provincial committee, reportedly said: “The economic situation in the province will improve only when businesses develop, and we hope this will be a sustainable development.”

According to information revealed during the meeting between the northern province’s leaders and investors, Hai Duong has so far attracted 146 FDI projects which amount to $2.86 billion. Besides, there are 35 domestic direct investment with a combined value of $254.46 million.

In 2014, businesses operated in industrial parks in the province gained a revenue of about $2.8 billion, an export value of $2.7 billion and import value of $1.9 billion. They have contributed some $50 million to the state budget and created jobs for over 74,000 people.

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.