Binh Dinh: Nearly 496 billion VND invested in TnB Vietnam Fashion Products Factory

The TnB Vietnam Fashion Products Factory will create jobs for local people when it comes into operation. (Illustration)

On November 17, information from the Binh Dinh Provincial Economic Zone Management Board said that the unit has just granted an investment certificate for the TnB Vietnam Fashion Products Factory project implemented by a Japanese investor.

 Accordingly, the TnB Vietnam Fashion Products Factory will be implemented in part of Lot A2, Hoa Hoi Industrial Park, Cat Hanh Commune, Phu Cat District (Binh Dinh Province) with an area of over 8.4 hectares and divided into 2 phases (phase 1: 3.3 hectares; phase 2: 4.8 hectares). The total investment capital is 495.8 billion VND, equivalent to 20 million USD. Of which, the contributed capital to implement the project is 198.32 billion VND (8 million USD) and the mobilized capital is 297.48 billion VND (12 million USD). The project's goal is to produce high-end fashion products with a scale of 7,000,000 products/year. According to the Binh Dinh Economic Zone Management Board, the project's operation period is from the date of the first Investment Registration Certificate to March 10, 2067.  The progress of capital contribution and capital mobilization will follow the project progress.

The progress of basic construction and putting the project into operation will be divided into 2 phases. Phase 1, implemented from October 2024 - October 2026 with items such as starting construction of the project; completing factories, warehouses, building offices; installing machinery and equipment, constructing works; completing the entire project phase, recruiting and training workers in phase 1, officially putting into production and business operations in phase 1...

Phase 2, implemented from November 2026 - November 2027 from the end of phase 1 with items: Completing construction of the factory in phase 2; completing the entire project phase, installing machinery and equipment in phase 2, recruiting and training workers and putting the entire project into production.

 The Management Board of Binh Dinh Economic Zone requires investors to register for an account on the National Information System on Foreign Investment in accordance with the law, and is responsible for reporting periodically every month, every quarter, every year in writing and through the National Information System on Foreign Investment to the Management Board of Binh Dinh Economic Zone in accordance with the law. At the same time, investors are required to be responsible for implementing the investment project in accordance with the objectives, contents, progress of commitments and regulations in the Investment Registration Certificate; comply with the legal regulations on construction, land, environment, labor, business registration, investment registration and related laws during the implementation of the investment project.