HAI DUONG LIGHTS THE WAY TO FACILITATE INVESTORS FROM AFAR

The northern province of Hai Duong currently has thousands of hectares of clean available land for foreign-invested enterprises, which Japanese groups in particular are interested in.

The information was shared by Secretary of Hai Duong Party Committee Secretary Tran Duc Thang at a meeting with Takafumi Ueda, director of Fujita, on November 30.

At the meeting, Ueda asked for support from Hai Duong People’s Committee to accelerate procedures to prepare for the construction of the Dai An urban service and industrial park complex, which is a partnership between Dai An JSC and some Japanese firms.

"The project is valued at $300 million, and the construction will be divided into many phases. The urban and service area is inspired by the Japanese style. It will contribute to creating stable working conditions for expats who are living in Hai Duong and local people, paving the way to attract foreign capital inflows," he said.

"Fujita will contribute a part of the capital to the project, meanwhile, our partner Dai An is responsible for the licence and land clearance. We hope that the preparations will be completed soon so we can start the construction of the complex in the autumn of 2024," Ueda added.

Fujita, which has been present in Vietnam for over 30 years, is a subsidiary of Daiwa House Group, one of Japan's largest construction and land management companies.

Secretary of Hai Duong Party Committee Tran Duc Thang said, “The province currently has thousands of hectares of clear land to attract foreign investors, especially Japanese firms. We would like to invite Japanese companies due to their prestige and responsibility.”

“Hai Duong’s legal and administrative system has been regularly reviewed and perfected, ensuring transparency and accessibility for investors. In addition, the province is implementing decisive solutions to quickly recover production and ensure the livelihoods of its people. The province focuses on administrative reform, guiding and urging investors to complete investment, land, and construction procedures to create the fastest conditions for them when implementing projects,” Thang stated.

Thang added that the province often organises meetings to drive the implementation of projects, listen to the opinions of the business community, and issue solutions to resolve their problems quickly.

Thanks to the effort to improve its investment environment, the province achieved a breakthrough in attracting foreign-invested capital this year.

In the first eleven months of this year, it drew $1.1 billion in foreign funding, triple the figure for the same period last year.

Hai Duong Industrial Zones Management Authority has issued investment registration certificates for 45 new foreign-invested projects with a total capital of $771 million. Additionally, capital has been increased for 26 foreign-led projects, with a total addition of almost $118 million. 25 projects are located outside the industrial parks (IPs) and 49 projects are in IPs.

Three outstanding foreign-invested projects combine a $270 million stationery plant invested in by the Deli Group Co., Ltd. at the expanded Dai An IP. The plant covers an area of 212,400 square metres and is expected to employ some 3,000 personnel and post annual revenue of $5 million once operational.

Another project will see the construction of a plant manufacturing solar photovoltaic cells at the Cong Hoa IP in Chi Linh city. The project is led by BoViet Solar, a subsidiary of China’s Boway Alloy, with a total capital of $120 million.

The third is a plant which specialises in manufacturing glass and plastics products, optical devices, and tools. The project is funded by the Singaporean investor Biel Crystal Plc. with capital of $160 million.

New foreign-invested projects primarily focus on manufacturing and processing, and electricity and electronics, with most investors coming from Hong Kong, Singapore, South Korea, China, and Taiwan.

Source: VIR