Hung Yen province okays 14 Japan-invested projects
Northern Vietnam's Hung Yen province has granted investment certificates to 14 direct investment projects of Japanese firms with a total registered capital of $532 million.
The certificates were handed over at a business meeting held Wednesday as part of commemorating 50 years of Vietnam-Japan partnership (1973-2023).
The biggest of the 14 projects is a $132-million investment by Nitto Vietnam Co. Ltd., an optical film company. The project will have an annual output is 176 tons, or 48 million items, providing parts for automobiles and smartphones.
Cot Vietnam Co. Ltd. will invest $45 million in building a factory for smartphone and computer components with an annual output of 144.6 million items, equivalent to 315 tons.
Parker Processing Vietnam Co. Ltd. will invest $23 million in a second factory specializing in surface treatment and heat treatment with an annual target of 26,000 tons of products.
Other certificate receivers included: DH Logistics Property Minh Quang Vietnam Co., Ltd. ($26.3 million); Makino Vietnam Co. Ltd. ($17.5 million); Intech Complex ($31 million); Musashi Auto Parts Vietnam Co. Ltd. ($51 million); Sumiden Vietnam Automotive Wire Co. Ltd. ($27 million); Panasonic Appliances Vietnam Co., Ltd. ($18 million); Sews-Components Vietnam Co., Ltd. ($65 million); Kansai-Alphanam Co. Ltd. ($25 million); Denyo Vietnam Co., Ltd. ($27 million); and Thien Ha Kameda JSC ($15 million).
Representatives of Japanese firms receive investment certificates at a meeting in Hung Yen province, northern Vietnam, September 27, 2023. Photo courtesy of Hung Yen newspaper.
At the event, Japan-invested Thang Long II Industrial Park and instant noodle maker Acecook Vietnam signed a memorandum of understanding for the latter’s investment of $100 million in a 10 hectare project.
Japan is the biggest investor in Hung Yen with 173 projects (excluding the above-mentioned 14) and a registered capital of over $4 billion, or 61% of the province’s FDI.
So far, 169 out of 173 projects with the registered capital of $3.2 billion have begun operations, employing 45,000 people and contributing VND1.4 trillion ($57.4 million) to the state budget in 2022 and VND880 billion ($36.1 million) in the first half of 2023.
Hung Yen hosts seven industrial parks covering 1,600 hectares at present. The province targets having 17 and 21 industrial parks by 2024 and 2030, respectively.
- Related News
- Read More
Hanoi TikToker internationally wanted for involving in multi-billion-dollar investment scam
Hanoi police have issued an international arrest warrant for Le Khac Ngo, known as "Mr. Hunter," a key accomplice in a recently-dismantled massive foreign exchange and securities fraud ring.
Society - Sat, December 21, 2024 | 10:57 pm GMT+7
Unlocking Phu Quoc’s potential to become the 'Hawaii of the East'
Leading global tourism companies have remarked that Phu Quoc has "yet to receive the recognition it deserves," despite its impressive and unexpected growth rate.
Travel - Sat, December 21, 2024 | 7:20 pm GMT+7
Thai central bank maintains policy interest rate at 2.25%
The Thai Chamber of Commerce (TCC) has said it backs the decision by the Bank of Thailand, the country's central bank, to maintain the policy interest rate at 2.25%, considering the move as suitable for a reviving economy.
Southeast Asia - Sat, December 21, 2024 | 5:43 pm GMT+7
Vietnam's military-run tech giant Viettel strikes big deals at international defence expo
Subsidiaries of Military Industry and Telecommunications Group (Viettel) signed a string of significant contracts with major global partners during the first two days of the Vietnam International Defence Expo 2024 in Hanoi.
Companies - Sat, December 21, 2024 | 5:36 pm GMT+7
Taiwan’s Wistron acquires 37ha land lot in northern Vietnam for expansion
Taiwan-headquartered Wistron, a top electronics provider and an Apple supplier, will further its investment in Vietnam’s northern province of Ha Nam by acquiring another 37.1-hectare land lot.
Companies - Sat, December 21, 2024 | 2:08 pm GMT+7
VAFIE seeks to promote sci-tech development, intellectual property policies
The Vietnam’s Association of Foreign Invested Enterprises (VAFIE) aims to enhance policies for the development of science, technology, and intellectual property, creating a more conducive investment environment.
Companies - Sat, December 21, 2024 | 1:59 pm GMT+7
Vietnamese dong likely to depreciate 3% in 2025: VinaCapital
The Vietnamese dong is likely to depreciate 3% in 2025 on anticipation that the US Dollar/DXY Index will finish 2025 nearly unchanged, says Michael Kokalari, chief economist at Vietnam's leading fund manager VinaCapital.
Economy - Sat, December 21, 2024 | 11:23 am GMT+7
First luxury railway journey across Vietnam features Indochine architecture
PYS Travel has launched the first luxury railway journey across Vietnam named Sjourney, marking a new milestone in the railway tourism sector.
Travel - Sat, December 21, 2024 | 10:09 am GMT+7
Vietnam among 40 most beautiful countries: US publication
Vietnam has secured the 36th position in the ranking of the 40 most beautiful countries in 2024 in a testament to its undeniable charm and appeal, according to US News & World Report.
Travel - Sat, December 21, 2024 | 10:04 am GMT+7
Foxconn to invest $16 mln more in Vietnam’s Quang Ninh province
Competition Team Technology (Vietnam) Company Limited, a subsidiary of Foxconn, will invest an extra $16 million in its “S- Vietnam” project in the northern coastal province of Quang Ninh.
Industries - Sat, December 21, 2024 | 9:53 am GMT+7
Vietnam’s small- and medium-sized businesses embrace digitization to weather global expansion risks: survey
While global expansion remains a key priority for the country's small- and medium-sized businesses (SMBs), achieving this goal requires overcoming challenges by leveraging the right talent and advanced technologies, including AI, according to Payoneer’s findings.
Companies - Sat, December 21, 2024 | 7:56 am GMT+7
Vietnam tax authorities collect $169 mln from delinquent taxpayers through exit bans
Vietnam's tax authorities have collected about VND4.3 trillion ($169 million) from 6,500 delinquent taxpayers through exit ban measures so far this year, nearly five times the amount reported in the middle of the year.
Finance - Fri, December 20, 2024 | 10:29 pm GMT+7
French, Chinese EV manufacturers to invest in Indonesia
Three global electric vehicle (EV) manufacturers - France’s Citroen and China’s BYD and AION - have committed to establishing EV manufacturing plants in Indonesia, Minister of Industry Agus Gumiwang Kartasasmita has announced.
Southeast Asia - Fri, December 20, 2024 | 6:42 pm GMT+7
Thailand optimistic about export prospects for 2025
With an upbeat export growth projection of about 5% this year, Thailand's Ministry of Commerce and its private sector are optimistic for a further 2-3% growth in 2025, bringing total export value to about $305 billion.
Southeast Asia - Fri, December 20, 2024 | 6:36 pm GMT+7
Philippines imposes temporary import ban on live cattle from Japan
The Philippines has imposed a temporary ban on the importation of live cattle and buffalo as well as their products from Japan due to the outbreak of lumpy skin disease (LSD), its Department of Agriculture said on Thursday.
Southeast Asia - Fri, December 20, 2024 | 5:53 pm GMT+7
Malaysia-China trade hits nearly $100 bln
Malaysia-China economic ties have continued to strengthen, with bilateral trade reaching nearly $98 billion between January and November, matching the 2023 total trade volume.
Southeast Asia - Fri, December 20, 2024 | 5:51 pm GMT+7
