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.
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.