Quang Ninh province licenses 4 Japan-invested projects worth $80 mln

Quang Ninh province in northern Vietnam on Friday granted investment certificates to four Japan-invested projects with total registered capital of $80 million.

The four projects that received investment certificates at the Quang Ninh-Japan investment promotion conference were Castem Vietnam, Part Seiko Vietnam, Tamagawa Vietnam, and Fujix Vietnam.

All the four will be located at the Song Khoai Industrial Park developed by Thai real estate giant Amata.

Castem Vietnam, a subsidiary of precision casting manufacturer Castem, had said in June that it would build a $19 million factory at the IP, becoming its first Japanese tenant.

The same month, Japanese sensor manufacturer Tamagawa Seiki Co., Ltd had announced plans for a $35-million factory. The firm develops and manufactures two-dimensional and three-dimensional (spatial) position/angle sensors.

In July, Parts Seiko Vietnam, a subsidiary of Japan’s Parts Seiko, had said it would invest $10 million in a one-hectare factory at the IP to manufacture metal products like shaft brackets, shaft rings, washers, clamps and taper washers.

In November, Japan-invested Fujix Electronic Vietnam Co. Ltd. leased 2.3 hectares at the IP to build a $24 million electrical equipment factory. The factory’s output will include electric cables, rubber washers, electrical insulation papers, aluminum casting products, and plastic casting products.

Speaking at the investment promotion event held as a commemoration of 50 years of Vietnam-Japan diplomatic ties, Quang Ninh's acting Chairman Cao Tuong Huy said the province was inviting investments in a wide range of sectors including tourism, services, manufacturing-processing, supporting industry, high-technology, smart technology, maritime economy, logistics, seaports and services, eco-agriculture, and renewable energy.

Vice Chairman Bui Van Khang highlighted the province’s advantages, including heavy investments in traffic and logistics infrastructure that establishes strong linkages between seaports, industrial parks, economic zones, urban areas, and other facilities.

So far, the province has attracted FDI worth $13.91 billion, including $2.39 billion from 12 Japanese projects. Notably, registered FDI in Quang Ninh reached $3.1 billion in the first 10 months of this year, the highest among all localities in Vietnam, according to Khang.