Tien Thanh Industrial Park, which will cover 410 hectares in the communes of Tien Thanh and Cap Tien, is expected to create new space for the attraction of industrial and services investors as existing industrial parks are already highly occupied.
On the same day, the municipal authorities also granted licences to three new foreign-invested projects worth a total of 146.5 million USD and approved additional investment worth 85 million USD to two current projects.
Among the new projects, HMT Hai Phong New Technical Materials Company Limited will build a factory worth 75 million USD for the manufacture of parts for passive safety systems in cars in An Duong Industrial Park, scheduled for completion in the first quarter of 2025.
ESR V Investor 4 Pte. Ltd. will invest 33 million USD in a logistics and warehouse project in Nam Dinh Vu Industrial Park while Classic Leaf Vietnam will pour 38.5 million USD into building factories and warehouses for rent.
In the meantime, Phi Hong Vietnam will double its investment to 100 million USD and Shin-Etsu Magnetic Materials Vietnam increase its investment by 35 million USD to 442 million USD.