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Foreign investors sign billion-dollar deals to invest in southeast

Foreign investors committed to investing billions of dollars in the southeast via signing memoranda of understanding (MoU) in petrochemicals, electronics, industrial park infrastructure, urban areas, and tourism.

Foreign investors sign billion-dollar deals to invest in southeast
Foreign investors signed a series of billion-dollar MoU to invest in the southeast

The MoU signing ceremony was organised as part of the "New Thinking - New Breakthrough - New Values" socioeconomic development conference organised in Ba Ria – Vung Tau province on November 26.

The event was hosted by Prime Minister Pham Minh Chinh and Deputy Prime Minister Le Minh Khai, with participants including leaders of ministries, localities, business associations, and domestic and foreign investors.

The most outstanding MoU was the investment expansion project phase 2 – Southern Petrochemical Complex worth $5.5 billion invested by the Siam Cement Public Co., Ltd.

Also, Earth Vision Company signed an MoU to invest $1.3 billion in producing industrial wood for the construction industry.

Some other outstanding MoU were the expanded Marubeni paper factory worth $380 million of Kraft of Asia Paperboard & Packaging Company; the $350 million high-resolution screens production project invested by IDIS Vietnam Co., Ltd; and a centre for port warehouses, chemical tanks, and gas utilities worth $230 million by Waizu Giken Company.

Hyosung Vina Chemical Co., Ltd. also committed to investing $250 million in expanding a polypropylene factory and liquefied petroleum gas underground storage site.

Many other MoU agreements worth dozens of million of dollars were signed at the conference.

Source: VIR

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