The People’s Committee of south central Binh Dinh province has licensed an investment certificate to Japan-based Marubeni Lumber Co Ltd to invest in a project worth 5 million USD.
Binh Dinh (VNA) - The People’s Committee of southcentral Binh Dinh province has licensed an investment certificate toJapan-based Marubeni Lumber Co Ltd to invest in a project worth 5 million USD.
The project, located in the province’s Nhon Hoi Economic Zone(EZ), is the first foreign direct investment (FDI) project that has beenimplemented in the zone since its establishment in 2005.
A representative of Marubeni Lumber Co Ltd said the project,covering an area of 10ha in Park A in Nhon Hoi EZ with an operation period of50 years, would be implemented in the second quarter of this year and completedin the second quarter of 2018.
Once completed, the project will provide wood and wood productsfor export, such as industrial wooden goods and wooden furniture. The investorwill also lease land for factory construction.
The project is expected to help increase export volume for BinhDinh province, contributing to the growth of the province’s wood processingindustry, creating jobs for more than 200 labourers and stabilising theprovince’s social welfare.
Marubeni Lumber Co Ltd plans to raise the project’s investmentcapital to 20 million USD in the second phase. The company hopes to attract moreinvestors, especially Japanese firms, to the project.
Also at the ceremony on February 13, Saigon-Nhon Hoi IndustrialPark Corporation signed a contract with Marubeni Lumber Co Ltdto lease land-use rights of Park A in Nhon Hoi EZ to theJapanese company.
Since the beginning of February, Binh Dinh has grantedinvestment certificates for two FDI projects.
The previous project is a garment factory funded by a Canadianinvestor in An Nhon town.-VNA
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Illustrative image (Source: VNA)
