TAL Apparel Limited on November 4 received an investment certificate from local authorities of the northern province of Vinh Phuc, paving the way for the Singaporean giant to construct a US$50 million textile plant.
Local officials approved for the plant to be constructed at Ba Thien 2 Industrial Park in Binh Xuyen commune.
It is the largest foreign invested project that has received approval to date in the province and, once completed, it is anticipated that it would generate 3,500 jobs and contribute VND40 billion to the national budget annually.
Construction is expected to be completed by September of next year.
As of November 2014, Vinh Phuc province attracted 38 foreign direct investment (FDI) projects with total registered capital of nearly US$300 million.
Source : VOV.VN