Leaders of Bac Giang province grant MoU on investment to representatives of Yadea Group and Tan Hung industrial park (Photo: VNA) BacGiang (VNA) – Nearly 900 million USD in foreign direct investment (FDI) has been registeredin the northern province of Bac Giang since the beginning of 2023.
Most recently, China’s Yadea Group will invest 100 million USD in afactory to manufacture and assemble electric motorcycles withan expected capacity of about 2 million vehicles per year in Tan Hung IndustrialPark, Lang Giang district.
Covering an area of 23.2 ha, theproject will be implemented in the second quarter of 2023.
At a ceremony on January 7 to hand over an MoU on investment to Yadea and Lideco 1, the investor of Tan Hung IP, Chairman of Bac Giang’s People’s Committee Le AnhDuong said theprovince will create the most favourable conditions for foreign investors, whohave made great contributions to the socio-economic development of Bac Giangprovince.
Earlier on January 2, Bac Giang province granted an investment certificate to Singapore’s Ingrasys Pte. Ltd, the investor of the Fulian precision technology factory project and signed an MoU with Chinese investor Hainan Longi Green Energy Technology Co Ltd on a project to produce solar panels.
Both projects will be conducted from the first quarter of 2023, with combined registered capital of about 761 million USD.
Bac Giang currently is home to more than 480 FDI projects, with totalinvestment capital of over 8.2 billion USD. The province posted an all-timehigh economic growth rate of 19.3% in 2022./.
