Dong Nai authorities licensed seven new foreign-invested projects, bringing US$203 million in combined capital to the southern province’s industrial parks.
Of the projects, the US$190 million Pou Sung Vietnam Industrial Enterprise will make footwear for international sport shoe firms. This is the biggest foreign-invested project in the province and the second biggest in Vietnam so far this year.
Company representative Sandy Shih said the Hong Kong-based firm has rented 200 hectares in Bau Xeo IP in Trang Born District.
The company will increase its capital to US$450 million in the second stage to make foot wear accessories, and electronic and hi-tech product parts.
The second biggest of the projects licensed yesterday is Buwoon Vina Co, which will make materials used for footwear in Amata IP. Chair Joo Woo-Seoul said the US$4.2 million Korean. Co would start building the factory next month to complete it this July.
The US$2 million Taiwanese Peaktop Co received a license to make candles in Loteco IP, and the US$2 million Wonder Co, also of Taiwan, will make garments in Bien Hoa 2 IP.
The fifth biggest project to get the authorities’ nod was Armapex Co, owned by a French investor. The US$1 million company will make leather products in Long Thanh IP.
The two other projects are joint ventures. Segis Pisico Vietnam, a US$3 million Vietnamese-Italian venture in Tam Phuoc IP, will make materials used for footwear.
The US$2 million Vietnamese-Israeli venture Avco Vietnam in Nhon Trach lP will produce chemicals used for dyeing and cleaning.
Representatives of the newly licensed business said they decided to invest in Dong Nai Province because the provincial authorities have helped them to set up the companies. They added that they see much potential in the province neighbouring HCM City.