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Bac Giang gets two FDI projects worth US$760 million

The Saigon Times

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HCMC – The northern province of Bac Giang yesterday, January 2, got two projects from Singapore and China totaling more than US$760 million.

The People’s Committee of Bac Giang Province issued an investment certificate for the Fulian precision technology plant project of the Singaporean firm Ingrasys in the Quang Chau Industrial Zone, Viet Yen District.

The project spans 49.6 hectares and focuses on producing electronic components, computers and communication equipment, among others.

In addition, the board of management of Bac Giang Province’s industrial zones inked a memorandum of understanding on the cooperation with China’s Hainan Longi Green Energy Technology Company Limited.

The Chinese investor aims to establish a solar panel manufacturing plant with an annual output of 3,500 MW. The project is set to begin in the first quarter of 2023.

According to Le Anh Duong, chairman of the Bac Giang Province People’s Committee, foreign investors have played key roles in bolstering local prosperity.

In 2022, the province’s growth rate reached an all-time high of 19.3%. There have been 480 foreign direct investments, with a total of US$8.2 billion in the province.

Representatives of the two investors praised Bac Giang Province’s determination and support throughout the administrative processes.

The enterprises were committed to contributing to the socioeconomic growth of the province by generating employment, increasing income of the local and integrating environmental and social responsibility into their business operations.

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