Nghe An approves investment policy for FDI project with total capital of 590 million USD
The Standing Committee of Nghe An Provincial Party Committee approved the investment policy of an FDI project with a total investment of 590 million USD at Tho Loc Industrial Park, phase 1, in the Southeast Economic Zone.
On the morning of November 28, the Standing Committee of Nghe An Provincial Party Committee held its regular meeting for November 2024. Comrade Nguyen Duc Trung - Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee chaired and directed the meeting.
Attending the meeting were comrade Hoang Nghia Hieu - Standing Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Council; representatives of Party Committees, the Central Inspection Committee in charge of the Nghe An Provincial Party Committee and comrades of the Standing Committee of the Provincial Party Committee...
At the meeting, after listening to the opinions of relevant departments, agencies and branches, the Provincial Party Standing Committee approved the investment policy of the Mega Textile - Vietnam Project in Dien Tho commune, Dien Chau district, Tho Loc Industrial Park phase 1 (Southeast Economic Zone) invested by investor MEGA TEXTILE SINGAPORE PRIVATE LIMITED (Singapore).
The investor has established Mega Textile Vietnam Co., Ltd. to implement the project. The total investment of the project is 590 million USD (equivalent to 14,775.9 billion VND), the land lease area is more than 51 hectares.
The project's objective is to produce all kinds of fabrics, all kinds of knitting, colored yarn, cut semi-finished products, costumes, belts... with a capacity of about 67,200 tons/year of all kinds of fabrics; about 10,300 tons/year of all kinds of knitting; about 7,200 tons/year of colored yarn; about 100 million belts/year; about 130 million costumes/year; about 2.2 million cut semi-finished products/year.
According to the schedule, by the second quarter of 2025, the project will complete investment procedure preparation; by the second quarter of 2028, phase 1 will be officially put into operation; by the second quarter of 2030, phase 2 will be officially put into operation; and by the second quarter of 2034, phase 3 will be officially put into operation.
Once operational, the project will contribute to the State budget and create jobs for more than 15,000 local workers, contributing to promoting the development of the garment industry locally as well as nationwide.
With the approval of the investment policy of the Mega Textile - Vietnam Project, the results of attracting FDI capital of Nghe An province to date have reached more than 1.567 billion USD and are expected to reach nearly 1.7 billion USD by the end of 2024. This is the second consecutive year that Nghe An has attracted more than 1.6 billion USD, continuing to expect to be in the top 10 provinces and cities attracting the highest FDI in the country.
Also at the meeting, the Provincial Party Standing Committee agreed to adjust the investment policy of the VSIP Nghe An Industrial, Urban and Service Park Project in Hung Nguyen district, in the Southeast Nghe An Economic Zone.
MEGA TEXTILE SINGAPORE PRIVATE LIMITED was established on February 18, 2022 under Singapore law. This is a 100% owned enterprise by Best Pacific International Holdings Limited - a company listed on the Hong Kong Stock Exchange.
Best Pacific is one of the leading names in the field of manufacturing and trading fabrics and belts supplying to the world's leading sportswear and underwear brands.
In Vietnam, Best Pacific Group has built its first factory in Hai Duong province since 2016, creating jobs for more than 1,600 workers. Mega Textile - Vietnam is the largest project of Best Pacific Group.
.jpg "Giải pháp thu hút lao động cho các doanh nghiệp, dự án FDI trên địa bàn tỉnh Nghệ An")
