Quang Ninh grants certificates to 2 projects with total investment capital of nearly 250 million USD

On June 29, Quang Ninh province held a ceremony to grant investment registration certificates to two projects (FECV Foxconn Quang Ninh Factory and FMMV Foxconn Quang Ninh Factory) of Foxconn Singapore PTE LTD at Song Khoai Industrial Park (Quang Yen Town). Both projects were granted investment certificates within just 12 working hours, from the time the investor submitted the application online through the province's public service portal (shortening the processing time by 14 working days compared to the regulation).

Attending the ceremony were Mr. Cao Tuong Huy, Acting Chairman of the Provincial People's Committee and leaders of a number of relevant departments, branches and localities. On the investor side, there were Mr. Chau Nghia Van, Deputy General Director in charge of Hong Hai Science and Technology Group (Foxconn) in Vietnam; Ly Han Minh, Deputy General Director of Foxconn Singapore PTE LTD.

Comrade Cao Tuong Huy, Member of the Provincial Party Standing Committee, Acting Chairman of the Provincial People's Committee, presented the Investment Registration Certificate to the representative of Foxconn Group.

The FECV Foxconn Quang Ninh factory project has an area of 6.3 hectares, with a total registered investment capital of over VND 4,755 billion (equivalent to USD 200.24 million) with the goal of forming a project to manufacture and assemble electronic components, chargers, and electric vehicle charging controllers. The project is expected to be completed in January 2025, officially put into production, and will provide regular jobs for nearly 1,200 workers.

The FMMV Foxconn Quang Ninh Factory Project covers an area of 4.1 hectares, with a total investment of nearly VND 1,100 billion (equivalent to 46 million USD) with the goal of manufacturing and processing components and molds of information technology products and communication products. The project is expected to be completed, put into operation and employ over 700 workers in October 2024.

The technology lines and machinery and equipment of the two projects use modern, synchronous machinery and equipment systems originating from Japan, Korea, China, Taiwan, and Vietnam.

According to the appraisal report of the Provincial Economic Zone Management Board, the research and implementation of the two projects were carried out by Foxconn Singapore Company in a very professional, methodical and careful manner. The issuance of Investment Registration Certificates for the two projects was ensured by the Provincial Economic Zone Management Board and related departments, branches and localities in accordance with the correct procedures and order of handling administrative procedures, and the processing time was shortened by 14 working days compared to the regulations.

Mr. Chau Nghia Van, Deputy General Director in charge of Foxconn Group in Vietnam, expressed his gratitude and appreciation for the province's service spirit and working efficiency when it completed the investment license approval within just 12 hours.

Speaking at the ceremony to grant the Investment Registration Certificate, Mr. Chau Nghia Van, Deputy General Director in charge of Foxconn Group in Vietnam, said: After 16 years of development and investment in Vietnam, Quang Ninh is the province that the Group has chosen to implement important production projects. This has been carefully calculated by the Group based on natural conditions, socio-economic conditions and the management and leadership capacity of the locality. Especially when Quang Ninh has been leading the PCI rankings for 6 consecutive years.

At the same time, the investor representative also expressed his gratitude and appreciation for the province's service spirit and working efficiency when it completed the investment license review within just 12 hours. This result will continue to be a testament to the fact that Quang Ninh has been, is and will be a safe, reliable and attractive destination for investors.

Mr. Chau Nghia Van, Deputy General Director in charge of Foxconn Group, also pledged to comply with state laws and implement projects on schedule as registered to contribute to the development of the province.

Speaking at the ceremony, Comrade Cao Tuong Huy, Acting Chairman of the Provincial People's Committee, pledged that Quang Ninh province will always accompany investors throughout the project implementation process.

Speaking at the ceremony, Comrade Cao Tuong Huy, Acting Chairman of the Provincial People's Committee expressed his joy at being awarded the Investment Registration Certificate for two projects of Foxconn Singapore Company.

He emphasized: Foxconn Singapore's investment in both projects is in line with the investment call of Quang Ninh province, meeting the development needs of the province. Up to now, the province has attracted over 11.5 billion USD in FDI from investors from over 20 countries and territories around the world, including Foxconn Group. In particular, the granting of 2 investment certificates today has increased the number of projects of the Group in Quang Ninh to 3 with a total capital of over 300 million USD (accounting for about 1/10 of the investment scale of Foxconn Group in Vietnam). This event continues to mark an important starting point for both sides and Quang Ninh hopes to attract more projects of the Group in Vietnam.

Quang Ninh province also highly appreciated the recognition of investors in Quang Ninh's pioneering in administrative reform, improving competitiveness, attracting investment; the efforts of Foxconn Group, Foxconn Singapore PTE Ltd, Amata Ha Long Urban Joint Stock Company in a short time actively coordinated with the authorities of Quang Ninh province, Quang Yen town and related units to quickly complete the investment licensing procedures.

He also praised the Quang Ninh Economic Zone Management Board, departments, branches and Quang Yen Town for actively and proactively accompanying investors to speed up the completion of documents and legal procedures in accordance with regulations and order so that competent authorities have a basis to issue the Investment Registration Certificate for the project.

With the viewpoint and motto of action "Business efficiency is the success of the province", the leaders of Quang Ninh province and the functional agencies of the province committed to always accompany investors throughout the project implementation process and will resolve any problems and difficulties that are the responsibility of the province 24/24, including holidays. At the same time, they requested investors to speed up the progress of the 2 projects compared to the expected time.

He believes and hopes that, with the commitment of the provincial government, the incentives in terms of location, geography, nature and cultural traditions of Quang Ninh people will attract more investors from Foxconn Group and with the investment in a locality with Ha Long Bay - a World Natural Heritage, the Group's products will have increased value in the international market.

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