Mobile phone plant invested in Hoa Binh
The northern mountain province of Hoa Binh on February 20 granted an investment license to HNT Electronics of the Republic of Korea (RoK) to manufacture built-in cameras for mobile phones.
The wholly foreign invested project will be built at Luong Son industrial park (IP) at a total cost of US$20 million.
The plant is scheduled to be operational in November 2014 to produce 120 million products a year. It expects to generate 600 jobs and contribute VND11 billion annually to the provincial budget.
At the license hand-over ceremony, provincial authorities asked relevant agencies to create optimum conditions for the investor to carry out the project efficiently.
They also asked the investor to speed up project construction, abide by Vietnamese law, and harmonise the interests between the investor, locality and workers.
Hoa Binh, a gateway to capital Hanoi, plans to receive four other investors in Luong Son IP.
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Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
- Growing number of FDI firms moving to Vietnam
- Vietnam Gov’t committed to facilitating Adani Group’s US$2-billion port project
- Vietnam Railway proposes US$87 million for Hanoi–Dong Dang railway upgrade
- Vietnam’s North-South high-speed railway to be designed for 350km/h
- Vietnamese gov’t urged to address impact of global minimum tax
- Samsung plans drastic investment increase in Vietnam over next three years