Manufacturing News 02/03/2024, 16:30

Quang Ninh Province Grants Investment Certificates to Two FDI Projects Worth Over $330 Million

On February 21, the Quang Ninh Province Economic Zone Management Board awarded investment certificates to two foreign direct investment (FDI) projects with a combined investment exceeding $330 million.

Quang Ninh Province Grants Investment Certificates to Two FDI Projects Worth Over $330 Million

The first project, located in the Texhong Hai Ha Industrial Park in Hai Ha District, involves the production of monocrystalline silicon wafers and rods. Gokin Solar, based in Hong Kong, is investing a total of $275 million in this venture, which is expected to have an annual production capacity of approximately 1.4 billion units. Operations are slated to commence in October 2025.

The second project, situated in the Song Khoai (Amata) Industrial Park in Quang Yen Town, focuses on manufacturing bearings and linear motion equipment. IKO Thompson Vietnam is the investor behind this $57 million endeavor, with an annual design capacity of 930 tons. Phase 1 is set to begin operations in January 2026.

According to the Quang Ninh Economic Zone Management Board, the province's industrial parks attracted eight FDI projects totaling $478 million in the first two months of 2024. FDI inflow into the province for the first quarter of 2024 is anticipated to reach around $1 billion. Quang Ninh Province aims to attract at least $3 billion in FDI capital throughout 2024.

VnEconomy / Translator: Hoàng Giang
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