RoK investors get investment licenses in Vinh Phuc province (Illustrative image. Source: VNA)

Vinh Phuc (VNA)
– The northern province of Vinh Phuc has granted investment licenses to two projects from the Republic of Korea (RoK), raising the total capital from RoK firms to over 1.36 billion USD.

The first project is a plant of ACT VINA manufacturing electronic printed circuit boards for mobile phones and other electronic devices. It aims to produce 10 million products per year with a total investment of 7 million USD.

The second project worth 5 million USD will be carried out by the Hanbo ENC Ltd., Co. to produce leather cases and covers for electronic goods and accessories.

Located at Ba Thien II industrial park in Thien Ke commune, Binh Xuyen district, the two plants are expected to be put into operation from October 2018.

Investors of the projects pledged to generate jobs for 1,000 workers with monthly income of about 250 USD each.

Vinh Phuc is requesting relevant agencies to create the most favourable conditions for investors to implement projects as scheduled and in accordance with legal regulations in Vietnam.

As of February 2018, the province counted 278 FDI projects worth over 4 billion USD from 15 countries and territories. Japan ranked second with 31 projects with registered capital of 816 million USD and led in business-production efficiency.-VNA