Taiwan’s Kenmark group received a license to invest US$500 million in industrial production and housing development in Vietnam’s northern province of Hai Duong.
The license agreement marks Kenmark’s first investment into Vietnam to capitalize on low labor costs in the country - as the largest single provincial project by dollar value in Hai Duong.
The company’s first phase involves a $180-million plant to produce liquid crystal display (LCD) television screens in Viet Hoa Industrial Park.
Hai Duong Northern Province has so far attracted 74 foreign-investment projects, 50 of which have gone into operation. Provincial investors on the whole have disbursed $405 million or 56.7% of the total pledged capital.