RoK firm invests 8 million USD in Ha Nam

Ha Nam (VNA) – The northern province of Ha Nam on May 13 granted an investment licence to the HTC Group from the Republic of Korea (RoK) to build a factory producing home cleaning products and construction materials.

The factory, covering an area of 20,000 square metres in the Dong Van 1 Industrial Park in Duy Tien district, has a total investment capital of 8 million USD.

Once operational in the next 12 months, the project is expected to create 5 million USD in revenue per year, generate about 120 jobs, and contribute 1 billion VND (43,000 USD) to the local budget.

It is licensed to operate in a period of 50 years.

Speaking at the granting ceremony, Chairman of the provincial People’s Committee Nguyen Xuan Dong affirmed that Hanoi will always stand side by side with investors so that they can operate effectively in the locality.

Industrial parks in Ha Nam are now home to 230 active projects. Of this figure, 131 were invested by foreign businesses, with a total registered capital of 1.3 billion USD.

Meanwhile, the remaining 99 domestic projects have a total registered capital of nearly 10 trillion VND (455 million USD).

Currently, the province has eight industrial parks that cover an area of 2,000 ha. The industrial park Dong Van III, which is under construction and geared towards the supporting industry, will apply its own mechanisms and policies. The locality has approved the plans for 18 industrial clusters, spreading over an area of nearly 500 ha.