Taiwanese textile firm receives investment certificate

Tai Yuan Vietnam Co., Ltd, a Taiwanese firm specialising in yarn and textile products, on July 18 received an investment licence for the construction of its plant in northern Ha Nam province.

The firm will invest US$150 million to build the plant on a 24 ha plot in the Dong Van II Industrial Park in Duy Tien district.

It is expected to become operational in August 2005, generating jobs for 700 labourers.

Speaking at the licence handover ceremony, Chairman of the provincial People’s Committee Mai Tien Dung asked local authorities to create favourable conditions for the investor to complete its investment procedures quickly.

Zheng Yuan Tai, director of the company pledged to abide by the locality’s regulations on investment and environment in implementing the project. 

In recent years, Ha Nam’s authorities have put in place preferential policies to lure foreign investment. So far this year, it has attracted 13 foreign projects, bringing the total foreign capital invested in the locality to nearly US$1 billion.