Five more FDI projects in HCMC await licenses

(SGT-HCMCJune 4, 1999) The HCMC Service of Planning and Investment has received for appraisal five foreign-owned projects with a combined investment capital of US(USDollar) 3.1 million, reports the service's project appraisal department.

The 15-year, US(USDollar) 500,000 P.E.B. (Vietnam) Co. Ltd., a venture by P.E.B. (Indochina) Ltd. of Cyprus, plans to provide consulting for, design, install and maintain prefabricated houses made by Zamil Steel, together with providing after-sales service. It also plans to open a plant and a spare-parts warehouse in Dong Nai.

Astral Infotech Vietnam Ltd. by Astral Computers Pte. Ltd. of Singapore, has an investment capital of US(USDollar) 600,000 and plans to design and analyze information systems, provide PC and networking solutions, and develop software over 20 years.

K.H.-Vina Ltd. by the DAEIP Textile Co. Ltd. of South Korea, has an investment capital of US(USDollar) 400,000 and plans to manufacture textile products for local sale and export over 15 years.

Maching Plastics Vietnam Ltd. by Maching Plastics Enterprise Ltd. of Taiwan is capitalized at US(USDollar) 600,000 and plans to produce gas stoves, aluminum alloy products, kitchen ventilators, electric and gas water-heaters, and plastic products, 50% for export, over 20 years.

Ever Huge Ltd. by Mr. Wu Hsuan-ko of Taiwan has an investment capital of US(USDollar) 1 million and plans to produce clothing for local sale and export over 20 years.

The department also reports that the applications for P.E.B. (Vietnam) and Astral Infotech Vietnam have been submitted to the Ministry of Planning and Investment and are expected to be licensed within 15 days.

The other three projects are still being appraised and will be submitted to the city authorities for approval soon.