Vietnam’s total registered foreign investment reached about $1.2 billion in January, a fourfold increase on a year earlier, largely due to U.S. solar power company First Solar Inc. receiving an investment permit to build a $1 billion factory.
First Solar expects to begin construction of the plant, near Ho Chi Minh City, this month and be ready for operations next year, Vietnam News reported, citing Tymen de Jong, First Solar’s vice president. The company will invest $300 million in the project’s first phase, which will last until 2012, according to the newspaper.
