Quang Nam woos over $1.56 billion in investments

Six ventures have been awarded investment certificates by Quang Nam. South Korean firms have received two of these, with Kyung Rim Tech Co., Ltd. set to fund an auto-parts assembly in Dien Nam Dien Ngoc IP worth VND146 billion ($5.7 million). Meanwhile, Oriental Commerce Vina Co., Ltd. will manufacture supporting products for the packaging industry in Tam Thang IP to the tune of VND186 billion ($7.3 million).

China's Standard Track Co., Ltd. will spend VND58 billion ($2.3 million) on building a household appliances factory in Tam Thang 2 IP, while Hong Kong-based Portillo Estudio Ltd. will construct a ready-built warehouse costing VND216 billion ($8.5 million) in Dien Nam Dien Ngoc IP.

Tucai SA from Spain also received an investment certificate to manufacture flexible connectors with an investment of over VND187 billion ($7.3 million). Likewise, Vietnamese corporation Thaco Auto was approved to develop its research and development centre valued at VND292 billion ($11.5 million) at Chu Lai Truong Hai Automobile Mechanical IP.

In addition, Quang Nam also signed agreements on investment research for four different initiatives.

Thaco will spend over VND7.2 trillion ($282.4 million) researching methods of dredging the Cua Lo channel to accommodate 50,000-tonne ships, while Capella Quang Nam JSC will inject over VND600 billion ($23.5 million) on infrastructure for the expansion of Tam Thang IP 2.

Meanwhile, Viet Phuong Investment Group will research investment in the infrastructure of Bac Thang Binh 1 and Bac Thang Binh 2 IPs, utilising more than VND6.5 trillion ($255 million), and Hoi An South Development Ltd will continue to invest more than $1 billion in Phase 2 of Hoiana Resort & Golf.

Kärcher Group, renowned for its high-pressure cleaning products, inaugurated and began operations at a new cleaning equipment factory at Tam Hiep Port Logistics Industrial Park in the central province of Quang Nam.

South Korea's Hyosung Group is facing land rent and compensation barriers as it attempts to implement its $1.3 billion investment commitments in the central province of Quang Nam.

The central province of Quang Nam is supporting businesses, improving the business environment, and calling on investors for a breakthrough in rapid and sustainable development.