Vietnam’s the northern province of Bac Giang has received the pledge of nearly 900 million USD in foreign direct investment with the start of 2023.
The Provincial authorities informed that within a week of the new year, this amount of FDI was registered officially, mostly for clean energy.
Recently, China’s Yadea Group has agreed to invest 100 million USD in a factory of electric vehicles. The fund will be used to manufacture and assemble electric motorcycles with an expected capacity of about 2 million vehicles annually.
The factory will be located in Tan Hung Industrial Park in Lang Giang district.
As per the local reports, the investor of Tan Hung IP, Chairman of Bac Giang’s People’s Committee Le Anh Duong earlier shared that the province will create most favourable conditions for foreign investors.
Besides, the province has already issued investment certificates to Singapore’s Ingrasys Pte. Ltd, the investor of the Fulian precision technology factory project and inked a deal with Chinese investor Hainan Longi Green Energy Technology on a project to produce solar panels, the authorities mentioned. These projects will have a combined registered capital of about 761 million USD.