Fuhua Co Ltd of Taiwan (mainland China) on Wednesday commenced the construction of 17 workshops for rent in the Binh Xuyen 2 Industrial Park in northern Vinh Phuc Province.
In 2015, the provincial management board of industrial parks licensed the firm to invest US$28.5 million in a 29-workshop project covering a total area of 18.8ha in the Binh Xuyen 2 Industrial Park.
As a wholly foreign-owned firm, Fuhua specialises in building industrial workshops for sale or for rent and repairing workshops and other architectural works. The first phase of building 12 workshops was completed in July 2015 and 11 of them have been sold and leased, contributing VND86.2 billion to the locality’s budget.
Yao Zi Yan, Fuhua general director, said in this second phase, his firm will pour over $10 million into constructing 17 facilities, towards meeting the increasing demand of businesses.
These workshops are scheduled to be completed and put into use by the end of March next year.
According to the provincial management board, industrial parks in Vinh Phuc attracted 19 new foreign-invested projects in the last 11 months.
The local authorities have recently granted an investment certificate to Japan’s Sumitomo Corporation to develop infrastructure of the 213ha Thang Long Vinh Phuc industrial park, which is expected to attract 79 investment projects from Japan, with total registered capital of $1.5 billion.
In a bid to lure more investment, the province has paid heed to improving local business climate, attracting resources for development while building essential infrastructure and enhancing vocational training quality.
Mapping out the plan for urban development and facilitating administrative procedures for investors are also being given top priority.
Further, the province has held talks with FDI businesses to promptly tackle their difficulties.