Amata industrial park in northern Vietnam attracts two Japanese projects worth $105 mln

Vietnam’s northern province of Quang Ninh granted investment certificates to two Japan-invested projects with total registered capital of $105 million on Friday.

Quang Ninh Economic Zone Authority delivered the documents at a meeting with investors in Amata City Ha Long, a major industrial park in the northern province.

Both projects will be located in the industrial park, also known as Song Khoai Industrial Park and invested by leading Thai industrial park developer Amata.

Tenma Vietnam Co. Ltd., under Japan’s Tenma Corporation, will invest $56 million in manufacturing plastic components and molding parts. The project is set to complete construction and enter operation in the second quarter of 2025.

Yaskawa Asia Pacific Pte. Ltd, under Japan’s Yaskawa Electric Corporation, will invest $49 million in an electromechanical system project. The project is scheduled to enter operation in April 2026.

At the meeting, provincial authorities also answered investors’ questions related to VAT refunds, installation of solar energy systems, fire prevention rules, and labor supply.

Quang Ninh Economic Zone Authority also launched a campaign for 2024, including goals of attracting $3 billion in FDI, wastewater management systems, FDI firms earning $3 billion and paying VND850 billion ($33.4 million) to the state budget, and businesses employing at least 3,000 more people.

Prior to these projects, Song Khoai Industrial Park had attracted 15 FDI projects with total registered capital of $2.4 billion.

Most recently, IKO Thompson Vietnam, under Japanese machine parts manufacturer IKO Thompson, signed a land use agreement with Song Khoai Industrial Park. IKO Thompson Vietnam is set to lease three hectares of land in the park to build a factory for manufacturing bearings and linear motion equipment, per its $57-million project.