HCMC grants investment certificates to two FDI enterprises

Ho Chi Minh City People’s Committee Chairman Le Hoang Quan on Wednesday granted investment certificates to two Foreign Direct Investment (FDI) garment firms.

British based Worldon Vietnam Company has been permitted to build a 52 hectare fashion design and high-end garment production center together with a seven hectare accommodation area for workers in Dong Nam Industrial Zone, Cu Chi District. The project has a total investment capital of US$300 million.

South Korea based Nobland Vietnam has been allowed to increase investment capital from US$43 million to US$61 million to broaden its garment plant in Tan Thoi Hiep Industrial Zone.

The company was established in 2002 to make export garment items with 15 production lines. After 12 years of operation the company wants to invest in three more plants comprising 120 production lines.

According to a report by the HCMC Department of Planning and Investment, FDI capital reached US$3.21 billion in the city last year, an increase of 94 percent over the previous year.

By T. Mai, Han Ni – Translated by Hai Mien

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