Japan's Yaskawa Electric plans $100 mln plant in Quang Ninh province

By Tri Duc
Sat, January 14, 2023 | 8:55 pm GMT+7

Japan’s Yaskawa Electric Corporation plans to invest $100 million in building a 12-hectare factory in Quang Ninh province-based Song Khoai Industrial Park, which is invested by Thailand’s Amata.

The Japanese firm, specializing in motion control, robotics, system engineering, and other sectors, and the Thai industrial developer plan to start the factory's construction in June, Yaskawa Electric CEO Nobuaki Jinnouchi told Cao Tuong Huy, acting Chairman of the northern coastal province, at a Friday meeting.

Cao Tuong Huy (right), acting Chairman of Quang Ninh province; Somhatai Panichewa (left), CEO of Amata; and Nobuaki Jinnouchi, CEO of Yaskawa Electric, at a meeting in Quang Ninh province, northern Vietnam on January 13, 2023. Photo courtesy of Quang Ninh newspaper.

Cao Tuong Huy (right), acting Chairman of Quang Ninh province; Somhatai Panichewa (left), CEO of Amata; and Nobuaki Jinnouchi, CEO of Yaskawa Electric, at a meeting in Quang Ninh province, northern Vietnam on January 13, 2023. Photo courtesy of Quang Ninh newspaper.

At the meeting, Somhatai Panichewa, CEO of Amata Vietnam, mentioned hurdles related to site clearance and a shortage of ground leveling materials.

The Song Khoai Industrial Park has basically completed essential infrastructure for the first phase, including site clearance, electricity, water, and waste treatment facilities.

The 714-hectare IP will cost about $150 million to build. It is scheduled to open in 2026.

Three investment projects worth $899.23 million, covering 58.6 hectares, are being implemented in the industrial park.

Quang Ninh, on the Vietnam-China border, is part of the Hanoi-Hai Phong-Quang Ninh development triangle, with Hai Phong being northern Vietnam’s largest logistics hub. Quang Ninh is emerging as a new destination for foreign direct investment in the north.

Amata is set to expand in fast-growing Vietnam as part of its plans for 2023. The regional major’s subsidiary Amata Vietnam, founded in 1994 as the first foreign industrial developer in the country, is building its fourth industrial park in Vietnam to expand its total industrial land to 2,347 hectares.

The three operational IPs are Amata City Bien Hoa (513 hectares) and Amata City Long Thanh (410 hectares), both in Dong Nai province near Ho Chi Minh City, and Amata City Halong (710 hectares) in Quang Ninh. The three parks house more than 200 factories.

The Thai developer has set aside some five billion baht ($144 million) of capital for 2023, according to a Nikkei Asia news report. Of this, more than 50% is earmarked for industrial development in Vietnam, 20% for projects in Thailand, and the remainder for a new undertaking in Laos.

Comments (0)
  • Read More
Construction trio keen on building $1.5 bln expanded expressway in southern Vietnam

Construction trio keen on building $1.5 bln expanded expressway in southern Vietnam

Three construction majors in Vietnam are interested in building an expanded expressway connecting Ho Chi Minh City with the Mekong Delta provinces of Long An and Tien Giang for an estimated VND38.6 trillion ($1.52 billion).

Infrastructure - Tue, November 19, 2024 | 8:18 pm GMT+7

Singapore, Germany upgrade relations to strategic partnership

Singapore, Germany upgrade relations to strategic partnership

Singapore and Germany have decided to elevate their ties to a Strategic Partnership to promote closer cooperation in areas of mutual interest such as security, artificial intelligence (AI) and clean energy.

Southeast Asia - Tue, November 19, 2024 | 8:01 pm GMT+7

Thailand’s rice shipment up 20% in 10 months

Thailand’s rice shipment up 20% in 10 months

Thailand exported 8.37 million tons of rice in January-October, a year-on-year increase of 20%, according to the Ministry of Commerce.

Southeast Asia - Tue, November 19, 2024 | 8:00 pm GMT+7

Vietnam’s inconsistent legal framework poses problems for FDI sector: Deep C exec

Vietnam’s inconsistent legal framework poses problems for FDI sector: Deep C exec

Vietnam’s legal framework lacks consistency and the foreign direct investment (FDI) sector will soon face challenges related to the Law on Environmental Protection, says Bruno Jaspaert, CEO of Deep C Industrial Zones.

Economy - Tue, November 19, 2024 | 6:30 pm GMT+7

Vietnam shares sink on extended foreign selloffs

Vietnam shares sink on extended foreign selloffs

Vietnamese equities fell for a fourth consecutive day on Tuesday as foreign traders extended their selling spree.

Finance - Tue, November 19, 2024 | 5:10 pm GMT+7

Germany’s household product firm QuickPack to invest $32 mln in Vietnam

Germany’s household product firm QuickPack to invest $32 mln in Vietnam

Germany’s QuickPack, a specialist for household goods and hygiene products, will invest €30 million ($31.8 million) in Vietnam’s Mekong Delta province of Long An.

Industries - Tue, November 19, 2024 | 4:24 pm GMT+7

Malaysian millionaire willing to invest in convicted Vietnamese tycoon’s property project: lawyers

Malaysian millionaire willing to invest in convicted Vietnamese tycoon’s property project: lawyers

Malaysian millionaire Vincent Tan has evinced investment interest in a residential project owned by convicted tycoon Truong My Lan, chairwoman of Van Thinh Phat Group, lawyers for the latter have disclosed.

Real Estate - Tue, November 19, 2024 | 4:17 pm GMT+7

‘Bottleneck of bottlenecks’ continues to dog Vietnam's property, infrastructure projects

‘Bottleneck of bottlenecks’ continues to dog Vietnam's property, infrastructure projects

Limited consultations between state agencies and the parliament’s primary focus on wording are issues with Vietnam’s legal framework adversely affecting property and infrastructure projects, say experts and corporate leaders.

Economy - Tue, November 19, 2024 | 3:40 pm GMT+7

President Xi Jinping hastens construction of 3 Vietnam-China rail routes

President Xi Jinping hastens construction of 3 Vietnam-China rail routes

Chinese President Xi Jinping has called for more substantial cooperation between China and Vietnam, including the pacier implementation of three railway routes linking the two nations.

Infrastructure - Tue, November 19, 2024 | 3:08 pm GMT+7

Vietnam developers offer deferred principal payments, interest support to boost year-end sales

Vietnam developers offer deferred principal payments, interest support to boost year-end sales

Vietnamese housing developers are offering several incentives including deferred principal payments and interest support to stimulate demand and boost liquidity as the year nears its end.

Real Estate - Tue, November 19, 2024 | 2:29 pm GMT+7

Australia's EQ Resources acquires TMG Group with Vietnam-based ferrotungsten factory

Australia's EQ Resources acquires TMG Group with Vietnam-based ferrotungsten factory

Australia-based EQ Resources Limited has acquired its fellow firm Tungsten Metals Group (TMG), which owns and operates the largest ferrotungsten (FeW) factory outside China.

Companies - Tue, November 19, 2024 | 11:00 am GMT+7

Techcom Securities becomes largest broker in Vietnam by capital base

Techcom Securities becomes largest broker in Vietnam by capital base

Techcom Securities JSC (TCBS) has become the largest securities company in Vietnam by charter capital after finishing a rights offering last week.

Finance - Tue, November 19, 2024 | 9:11 am GMT+7

Vietnam airport operator ACV looks to better exploit non-aviation service potential: exec

Vietnam airport operator ACV looks to better exploit non-aviation service potential: exec

Vietnam's airports operator ACV expects to earn $145 million from non-aviation services this year, accounting for around 18.83% of its total revenue, which is modest compared to other countries, said deputy general director Nguyen Duc Hung.

Companies - Tue, November 19, 2024 | 7:45 am GMT+7

The Investor to host seminar on removing legal bottlenecks for infrastructure, property investment

The Investor to host seminar on removing legal bottlenecks for infrastructure, property investment

A seminar themed “Removing legal bottlenecks for infrastructure and property investment” will be organized by The Investor in Hanoi on Tuesday.

Companies - Tue, November 19, 2024 | 7:00 am GMT+7

Indonesia promises Asia-Pacific investors more incentives

Indonesia promises Asia-Pacific investors more incentives

Indonesian President Prabowo Subianto recently told the press that he will create more incentives and expand special economic zones (SEZs) so as to lure investors from Asia-Pacific.

Southeast Asia - Mon, November 18, 2024 | 11:01 pm GMT+7

Indonesia, Brazil enhance aviation cooperation

Indonesia, Brazil enhance aviation cooperation

Indonesia's state-owned aircraft manufacturer, Dirgantara Indonesia (DI), and Brazilian aerospace company Embraer have signed a memorandum of understanding (MoU) to expand collaboration in the commercial aviation sector.

Southeast Asia - Mon, November 18, 2024 | 11:00 pm GMT+7