Attracting 2 new wood processing projects in Industrial Park and Industrial Cluster
- Investment promotion
In early June 2022, Binh Dinh province approved investment policies for two investors, LAHA Production & Trading Co., Ltd. and Kingston Vietnam Technology Co., Ltd. to invest in their projects in one Industrial Park and one Industrial Cluster in the province.
A wood processing workshop
In accordance with the approval, LAHA Production & Trading Co., Ltd. shall invest in a factory to produce furniture products from wood and metal woven with plastic rattan at Phuoc An Industrial Cluster in Phuoc An commune, Tuy Phuoc district. The project aims to produce a capacity of 30,000 products/year. The factory shall be built on an area of 4,769m2, with an investment of VND 16.62 billion. The construction is going to last from September 2022 to October 2023 and the factory shall go into operation soon after that.
The wood processing factory project of Kingston Vietnam Industry Co., Ltd. gained approval to make investment on the Lot AI-8, Long My Industrial Park, Quy Nhon city. The project objective is to process wood, manufacture interior and exterior furniture, with capacity of 1,200m3 products/year. The factory is going to be built on an area of 19,584m2, with total value of VND 46.12 billion VND. The construction period shall go from January 2022 to December 2022, and the factory shall go into operation soon after that.
In 2022, Binh Dinh Wood Industry makes commitments to expand activities to implement Binh Dinh’s development strategy to become one of the production centers of kitchen cabinets, bathroom cabinets and decorative boards with pioneering enterprises such as: Tien Dat, Dai Thanh, Thang Loi (under Phu Tai Joint Stock Company), Thien Phat... for the US and UK markets. Building Binh Dinh furniture brand for wooden outdoor and indoor furniture with solutions to increase market share in the US, EU, UK, Australian, Canadian markets. The member enterprises are encouraged to invest in planting large timber forests, forming material areas with sustainable forest management certificates and more investment is made on development of chipboard and MDF board factories.
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