Vietfast shoe manufacturing and processing factory project has a total investment of 30 million USD (equivalent to 690 billion VND) in Bac Thanh commune, Yen Thanh district, invested by a company in Taiwan, is currently implementing site leveling work.

The Vietfast shoe manufacturing and processing factory project with a total investment of 30 million USD (equivalent to 690 billion VND) in Bac Thanh commune, Yen Thanh district is implementing the leveling item

After completing the procedures to be licensed for investment, from June 2023 to present, the Vietfast shoe manufacturing and processing factory project is currently implementing permitted construction items. Specifically, the unit is implementing site leveling, currently reaching over 60% of the volume (expected to be completed around September 30, 2023) and then the unit will continue to deploy the factory construction item. According to the plan by the end of 2024, the plant will be completed and put into use.

It is known that this is a foreign investment (FDI) project with a total investment of 30 million USD (equivalent to 690 billion VND). The project's operation term is 50 years from the date of land allocation to the investor.

The project operates in the field of manufacturing and processing all kinds of shoes, sandals and footwear accessories of all kinds for export with a capacity of 6 million products/year.

The project, once operational, will contribute to promoting socio-economic development, creating jobs and income for local workers, improving land use efficiency, and increasing budget revenue; expected to create jobs for 6,000 unskilled workers in phase 1 (need to recruit 12,000 workers) with an average income of 6 million VND/person/month and annual state budget contribution of about 110 billion VND.

Representative of Yen Thanh District People's Committee said: In the past 2 years, from 2021-2022, enterprises have invested in projects in Yen Thanh district with a total investment capital of 3,298 billion VND, reaching a rate of 41.24%. A number of large projects have come into operation such as: Garment Factory of An Hung Group, Rice Processing Factory of TH Group, etc.

In addition, the district cooperates with the province to attract a number of key projects: An Hung 2 Garment Factory project in Tho Thanh commune, Shoe factory in Dong Thanh commune, Shoe factory in Tang Thanh commune, Garment factory in Long Thanh commune. In addition, APG Group, which invests in developing high-tech agriculture, has surveyed a number of communes in the district to have investment policies in the future, etc.

Van Truong

Source: Nghe An Newspaper (August 25, 2023)