Japanese firm to develop fabric-based products for Vietnam auto industry
Japan’s Ohtsuka Sangyo Material Co. Ltd. will invest $20 million in a project in the northern province of Ha Nam to research and develop materials for the automobile assembly sector.
Ha Nam authorities and the Japanese firm signed a memorandum of understanding during the Vietnam-Japan Economic Forum in Tokyo last Saturday.
The signing was witnessed by senior officials including Prime Minister Pham Minh Chinh, who was on a four-day (December 15-18) visit to Japan to attend the ASEAN-Japan commemorative summit and conduct bilateral activities.
Leaders of Ha Nam province and Ohtsuka Sangyo Material Co. Ltd. exchange MoU documents in Tokyo, Japan, December 16, 2023. Photo courtesy of Ha Nam newspaper.
The project will be located in the Kim Bang I Industrial Park that is to be built in the province’s Kim Bang district.
Ha Nam authorities also signed other MoUs with Japanese partners related to worker supply and clean energy development at the new industrial park.
Last Saturday, Deputy Prime Minister Le Minh Khai signed a decision on establishing the Kim Bang I Industrial Park in Ha Nam province. The 230-hectare project will straddle the communes of Le Ho, Dai Cuong and Dong Hoa. The project, with has a duration of 50 years, is expected to cost VND2,653.3 billion ($109 million).
Ha Nam has eight industrial parks at present: Dong Van I, Dong Van II, Dong Van III, Dong Van IV, Chau Son, Hoa Mac, Thanh Liem, and Thai Ha. Of these, Dong Van I, Dong Van IV, Chau Son, and Hoa Mac enjoy 100% occupancy.
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