Quang Ninh granted investment certificates to 2 foreign-invested projects worth nearly USD 250 million

Investment certificates were granted to two foreign-invested projects with total registered capital of $250 million by the provincial People’s Committee on June 29.

Prominent among those was Acting Chairman of the provincial People’s Committee Cao Tuong Huy.

The two projects are invested by Foxconn Singapore PTE LTD in the Song Khoai Industrial Park.

Both projects are granted the investment certificate within 12 working hours from the time the investor submits the online application through the provincial public service portal (The stipulated processing time is 15 working days).

The project of FECV Foxconn Quang Ninh factory has an area of ​​6.3 hectares with the total registered investment capital of over VND 4,755 billion (equivalent to USD 200.24 million). The factory will focus on manufacturing and assembling electronic components, electric charger, and electric vehicle charge controller. It is expected that the project will be completed and put into official production in January 2025.  It wil generate jobs for nearly 1,200 workers.

The project of Foxconn Quang Ninh FMMV Factory has an area of ​​4.1ha and a total investment capital of nearly VND 1,100 billion (equivalent to USD 46 million). This factory will manufacture and process different components of technological devices. in October 2024, The project is scheduled to be completed in October 2024 and employ over 700 employees.

Two projects will use modern and synchronous machinery and equipment systems originating from Japan, Korea, China, Taiwan, and Vietnam.