US Plastic Firm Okayed to Invest into Northern Vietnam
Haiphong municipal authorities have recently granted a license for the Plastic Sanfong Vietnam joint stock company, an affiliate of American Integration L.L.C, to invest into the city’s Quan Tru industrial park, state media reported.
The wholly foreign invested company has total registered capital of US$3 million, said a city’s official, noting that the company will operate for 50 years.
Plastic Sanfong Vietnam will specialize in producing plastic packages, leatherette, and women hand bags, he added.
Haiphong is now home to 236 foreign direct invested projects with total valued at US$2.3 billion, ranking fifth and sixth compared to other provinces and cities, respectively, said statistic of the Ministry of Investment and Planning. (Vietnam Economic Times, VIR)
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