Singapore-invested New Wing Interconnect Technology Co. in the northern province of Bac Giang has raised the investment capital of its project by 110 million USD.

Workers at the New Wing Interconnect Technology Co. (Photo: bacgiang-iza.gov.vn)

With the latest addition, the plant, which manufactures headphones and wires, will have total investment capital of 210 million USD, becoming one of the largest foreign-invested projects in Vietnam in the first two months of this year, baodauthau.vn reports. 

Covering more than 60,000sq.m in the Van Trung Industrial Zone, the plant manufactures nearly 225 million products each year. 

In the two-month period, Bac Giang lured 125 million USD in foreign investment capital (FDI), ranking 12th among 63 localities nationwide in terms of FDI attraction, statistics from the Foreign Investment Agency showed. 

[FDI up 2.5 times in first two months of 2019]

As of February, the province was home to 434 foreign-invested projects, with combined investment capital of 4.96 billion USD, as per the data. 

It strives to attract 1-1.2 billion USD in investment by the end of the year.

To this end, the province will continue improving the investment climate while strengthening support and handling obstacles for enterprises and investors to boost the production and business development and facilitate investment attraction.

Top priority for investment attraction will be given to transport infrastructure, energy, the development of industrial parks and clusters, key urban areas, and social infrastructure projects which are suited to the provincial socio-economic development plan.

The province will also welcome investment in supporting industries, hi-tech farming and production and investment in preservation and deep processing of farm produce for domestic consumption and export orientation to increase added value.-VNA