Page 32 - Layout 1

BUSINESS REPORT

FDI flows to most countries around the world
declined last year in the face of the Covid-19
pandemic, but Vietnam still managed to pull
in some large-scale projects. The positive
Sustained signs continued in the opening two months
of 2021, with approval coming for billion-
dollar projects.
appeal Sizeable investments

Authorities recently issued an investment
license to the $1.3 billion, 1,050-MW O Mon
II Thermal Power Plant Project belonging to
The largely positive view of Vietnam held by Japan’s Marubeni Corporation and Vietnam’s
investors continues despite the travails of the Trading Construction Works Organization
(Vietracimex). O Mon II is one of four power
last 12 months.
plants at the O Mon Power Complex in the
Mekong Delta city of Can Tho and is expected
T ANH NHI & TRA MY REPORT
to come into operation in 2026 and supply
Ho Chi Minh City and the Delta area.
South Korea’s LG Display, meanwhile,
added $750 million to its Hai Phong project
in February. This fourth adjustment brings
total capital in the project to $3.25 billion,
making it the largest investment in the north-
ern port city. The additional capital will be
used to expand production, which will be
completed in May.

30 | VIETNAM ECONOMIC TIMES | MARCH 2021