The Hai Phong City People’s Committee has granted investment licenses to three projects with total investment of nearly VND10 trillion ($423 million).

VinES Energy Solutions, a subsidiary of local giant Vingroup, received a license to manufacture batteries and accumulators at a factory in the northern port city’s Dinh Vu - Cat Hai Economic Zone. The factory has a total area of 27,000 sq m and a designed capacity of 2.2 GWh per year.

The second project will provide maritime transport services and logistics and be invested in by Zim Integrated Shipping Services Ltd, one of the leading carriers in the global container shipping industry and based in Israel, and the Hai An Transport and Stevedoring Joint Stock Company. The project is expected to begin operations in the fourth quarter of 2023.

The third project will build social housing for workers and be invested in by the Thaiholdings Joint Stock Company. The project has total investment of nearly VND4.9 trillion ($207 million).