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BUSINESS SPOTLIGHT

Phu My Group signs memorandum with Hoa Binh province

Released at: 18:10, 14/12/2018 BUSINESS SPOTLIGHT

Phu My Group signs memorandum with Hoa Binh province

Photo: Phu My Group

Memorandum with northern province over $81.5-million Mong Hoa Industrial Park.

by Ngoc Lan

The Phu My Group and the Hoa Binh Provincial People’s Committee signed a Memorandum of Investment Project for the Mong Hoa Industrial Park with investment estimated at over VND1.9 trillion ($81.5 million), in the presence of Prime Minister Nguyen Xuan Phuc at a conference on investment promotion in the northern province on December 11.

Prime Minister Nguyen Xuan Phuc (front, 6th from left) at the event (Photo: Phu My Group)

Located in Ky Son district, the Mong Hoa IP boasts many significant features. It is adjacent to National Road No. 6 and the Hoa Lac Highway, providing easy access to important transport networks in Vietnam’s north. It also has a special location between a mountain and the majestic Da River, making it ideal for domestic and international investors and contributing significantly to the development of Hoa Binh province in particular and the Northern Key Economic Region in general.

The Phu My Group has nearly 20 years of experience in investing, trading, and constructing industrial infrastructure and is committed to investing in the modern, environmentally-friendly Mong Hoa IP with an ecological focus.

It has also invested in the Phu My Industrial Park in Hanoi’s Chuong My district and the Hoa Phu Industrial Park in Hiep Hoa district, northern Bac Giang province.

Hoa Binh province also granted investment licenses to nine projects at the conference and signed memoranda of understanding with 15 investment projects with total capital of VND78.418 trillion ($3.3 billion).

The province promises to offer extremely favorable opportunities for investors in the future.

According to a report on the socioeconomic situation in 2018 from the Provincial People’s Committee, the province had 69 new investment projects this year, two of which were FDI.

There are a total of 544 projects in the province at the moment, including 37 FDI projects with capital of $502 million and 507 domestic projects with capital of VND64.885 billion ($2.7 billion). Eighty-five investment projects are in industrial zones.

This year there have been 450 enterprises registered in the province with total capital of VND7.5 trillion ($321 million).

In the last 15 years, the province has registered 2,800 enterprises with total registered capital of VND36 trillion ($1.5 billion).

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