Chinese and Hong Kong investors have signed two memorandums of understanding (MoU) with authorities of the central province of Binh Dinh for two projects in Nhon Hoi Economic Zones (EZ) worth a total registered capital of US$1.4 billion, said a provincial official.
Nguyen Thanh Hai, director of the province’s Investment Promotion Center, said China’s Shandong Haihua Group plans to carry out two projects in the province, the first capitalized at $300 million, will build a soda factory with an annual capacity of 600,000 tons at Cat Khanh Industrial Park (IP) in Phu Cat district. The Chinese side and the province will have further discussions to finalize the plan.
The second is to deploy a petrochemical and oil refinery costing US$1 billion in Nhon Hoi EZ with an output of 8 million tons per year.
Meanwhile, Hong Kong-based Kee Hing Cheung Kee wants to inject US$100 million into a tourism park and casino project, according to Hai.
He added that the signing of the MoUs followed recent fact-finding visits to Nhon Hoi EZ and Cat Khanh IP by these two companies.
The province will create the most favorable conditions for the firms to implement their projects, the official emphasized, while reminding the investors of environment protection responsibilities, especially at the petrochemical project.
More and more foreign investors are expressing their interest in Nhon Hoi EZ after Vietnam’s longest sea bridge, 2.5-km Thi Nai, has debuted, offering short and easy access to the zone.
To date, Binh Dinh has attracted 22 foreign-owned projects worth US$311 million in registered capital. Provincial authorities will soon grant licenses to three more foreign-invested projects valued at US$55 million.
The US’s ITC Spectrum LLC recently received an investment certificate to conduct a US$250-million tourism project, becoming the largest licensed foreign direct investment project in the locality.
STD, VNA
Vietnamese
