14:44 | 13/02/2017 Economy
The planning and investment department of Binh Dinh province has issued an investment certificate to Seldat Vietnam Company Limited to build a garment factory in An Nhon town.
|Currently, there are 69 FDI projects in Binh Dinh with a total registration capital of 783 million USD (Photo: baodautu.vn)|
The 1.2 million USD project will be funded by an investor from Canada. The factory, to be built in Nhon Khanh commune’s An Hoa hamlet, will have five garment lines and a design capacity of two million products a year, most of which will be exported to the US.
The plant will be constructed on a 2,440sq.m site and is expected to become operational in the second quarter of this year.
This is the first licence that has been given to a foreign direct investment (FDI) project in the central province this year.
Currently, there are 69 FDI projects in Binh Dinh with a total registered capital of 783 million USD. Investors are from countries such as the US, China, Japan, France, the Republic of Korea, Singapore, Malaysia and Thailand.
Last year, the province implemented reforms and simplified administrative procedures to create an attractive investment environment. Binh Dinh will continue its work on conducting dialogues with firms in the province to understand their problems and propose solutions so as to improve its business environment and boost its socio-economic development.