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$8-million South Korean factory licensed in Ha Nam

Released at: 13:59, 16/05/2016

$8-million South Korean factory licensed in Ha Nam

Factory to produce home cleaning products and construction materials in northern province.

by Hoai An

The Ha Nam Provincial People’s Committee has granted an investment license to South Korea’s HTC Group to build a factory producing home cleaning products and construction materials.

The $8 million factory covers an area of 2 ha at the Dong Van 1 Industrial Park in Duy Tien district and construction is expected to begin in August.

Once operational, in some 12 months, it is expected to generate $5 million in revenue each year, employ some 120 workers, and contribute VND1 billion ($43,000) to the local budget annually. Its license has a term of 50 years.

According to the Chairman of the Provincial People’s Committee, Mr. Nguyen Xuan Dong, the province has granted investment licenses to 30 projects, of which ten are foreign direct investment (FDI) projects. By way of comparison, Hanoi has 565 projects, with 165 FDI projects.

Ha Nam has created favorable conditions for and provided incentives to enterprises, to attract investment.

Image Source: Ha Nam Provincial People’s Committee

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