Major FDI firms reveal plans to expand investment in Vietnam

Leaders of major FDI enterprises in southern Ba Ria-Vung Tau province have revealed plans to increase investment in Vietnam in various areas, during a meeting with Prime Minister Pham Minh Chinh on March 20.

Their investment will focus on infrastructure, petrochemical, biotechnology and new materials.

A leader of Ho Tram Project Company Ltd, a subsidiary of the Asian Coast Development (Canada) Ltd. (ACDL), informed that the company has collaborated with Ba Ria-Vung Tau to develop a proposal for the construction of an expressway connecting Long Thanh International Airport in the neighboring province of Dong Nai to the Ho Tram Urban Area in Xuyen Moc district of Ba Ria-Vung Tau province. The proposed 40km-long expressway is estimated to cost around VND17 trillion ($665.1 million). With this project, the company plans to invest an additional $1.8 billion into the Ho Tram area.

A representative from the Long Son Petrochemical Complex project, invested by Thailand’s SCG Group, said the group plans to invest an additional $400 million to expand the project, bringing its total investment capital to nearly $6 billion.

Meanwhile, Hyosung Vina Co., Ltd., a subsidiary of the Republic of Korea’s Hyosung Group, has invested a total of approximately $4.6 billion and plans to pour an additional $1.5 billion into the fields of biotechnology and carbon fiber in Vietnam.