On the afternoon of March 26, at the Office of the Provincial People’s Committee (PPC), the Signing Ceremony of the Investment Memorandum of Understanding for solar panel factory investment project took place between Hoang Thinh Dat Corporation and Hainan Drinda New Energy Technology Co., Ltd. (China) in Hoang Mai II Industrial Park.

Attending the signing ceremony and representing the investors were: Mr. Chau Tieu Huy – Deputy General Director of Hainan Drinda New Energy Technology Co., Ltd.; Mr. Hoang Van Duong – Chairman of the Board of Directors and concurrently General Director of Hoang Thinh Dat Corporation;

Overview of the signing ceremony

At the Signing Ceremony, Mr. Chau Tieu Huy – Deputy General Director of Hainan Drinda New Energy Technology Co., Ltd. said that: Currently, the Company's products and technology lead the world in solar cell base manufacture. Through the investment survey process in Southeast Asian countries, the Company chose to invest in Hoang Mai II Industrial Park, located in the Southeast Economic Zone of Nghe An province.

The project involves the construction of a 14GW solar cell base manufacturing factory in Hoang Mai II Industrial Park, located in the Southeast Economic Zone, with a land area of 50 hectares (divided into 2 phases). Phase 1 is expected to use 30 hectares of land, with a total investment of 450 million USD; electricity demand is 70 MVA. The construction is scheduled to be completed and operational in the fourth quarter of 2024. The project will utilize the most advanced technology available today. Additionally, the company will involve more suppliers within the ecosystem to participate in the investment in Hoang Mai II Industrial Park and create opportunities for socio-economic development and increasing employment for local workers.

Representatives of the parties sign the investment agreement minutes

By surveying, the Company highly appreciates the province's investment environment. At the same time, thanks the attention, and support investors from the provincial government and very good investment environment for businesses. After the signing ceremony, the Company will immediately implement the next steps of the project and propose that Hoang Mai II Industrial Park speeds up the progress of infrastructure construction for the project. The company hopes that provincial leaders, leaders of departments, committees, agencies and Hoang Mai II Industrial Park will coordinate to go into operation in December 2024.

The Company also hopes that Nghe An provincial government, departments and branches shall support the Company in proposing incentives, especially incentives in the high-tech science and technology industry. The company undertakes to strictly comply with the provisions of Viet Nam law.

Vice Chairman of the PPC Bui Thanh An speaks

The Vice Chairman of the PPC Bui Thanh An expressed his joy at witnessing the signing ceremony of the Memorandum of Understanding for leasing land in the Hoang Mai II Industrial Park between Hoang Thinh Dat Corporation and Hainan Drinda New Energy Technology Co., Ltd to implement the project of manufacturing high-performance solar panels.

Vice Chairman of the PP said that in recent years, Viet Nam's high-tech industry and new energy industry have developed strongly. Nghe An has welcomed many high-tech investors such as Luxshare, Goertek, Foxconn, Everwin, Juteng, Sunny, Runergy, Shandong, Radian Opto, etc. to invest in the province. Nghe An has become the center for manufacturing electronic components and green energy in Viet Nam.

Nghe An has advantages in terms of preferential mechanisms of the Government, advantages in people, readiness for clean land, especially the companionship of the government system in the development of industrial park investors as well as secondary investors. In the last 3 years, Nghe An has had a strong breakthrough in attracting FDI investment, from ranking 20^th in 2021 (497.26 million USD) to 10^th in 2022 (961.3 million USD) and ranking 8^th in the localities attracting the largest FDI in the country (1.605 billion USD) in 2023, becoming the 3^rd FDI attraction center in Viet Nam.

Hoang Thinh Dat is a large, experienced investor who has invested in large industrial parks in Viet Nam. With the investment in Hoang Mai II Industrial Park, the Vice Chairman of PPC believed that with the support of the government and the support of Hoang Thinh Dat - investor of Hoang Mai 2, the Company will successfully implement the project.

Nghe An province highly appreciates the implementation of the solar panel manufacturing investment project by Hainan Drinda New Energy Technology Co., Ltd, thereby contributing to the promotion of renewable energy, clean energy, and new energy usage in Nghe An province and Viet Nam as a whole. This will help realize the goal of achieving net-zero emissions by 2050, as Viet Nam has committed.

To complete the project on schedule, the Vice Chairman of the PPC requested Hoang Thinh Dat Corporation, departments, committees, branches, and Hoang Mai town to closely coordinate and effectively  prepare the land and infrastructure to serve investors. The province assigned the Southeast Economic Zone Management Board and the Department of Planning and Investment to coordinate with the Ministry of Planning and Investment to implement high-tech incentives for the project and implement commitments of the Viet Nam Government on global minimum tax offset.

PT