Vietnam Time

8/31/2018 4:38:10 PM

Vinh Phuc presents investment license to Japanese firms

Authorities of the Northern province of Vinh Phuc have granted the investment license to investors of Kowa Global project in Binh Xuyen district’s Binh Xuyen Industrial Park (IP).

An enterprise operating in Binh Xuyen IP

The project, totaling over VND 136 billion (nearly USD 5.86 million), is invested by Japanese firms - Kowa Kasei JSC and Kowa Rubber Industries JSC.

This project will specialize in processing and conducting technical analysis and verification of rubber products, with a capacity of nearly 140 tons of products per year. It will also provide related consulting and trading services.

It is scheduled to be completed and officially put into operation in the second quarter of 2019, contributing VND 10 billion (USD 430.700) per year to the State budget.

Kowa Global is the 23rd secondary project wholly invested by Japan in IPs in Vinh Phuc.  The project is in line with the locality’s policy of encouraging the development of support industry.

It will create new products with high competitiveness in the market, contributing to promoting the province’s socio-economic development.

At present, IPs in Vinh Yen city and Phuc Yen town of Vinh Phuc have been fully filled. Investment projects in the province in the near future will be mainly allocated in IPs of Binh Xuyen district.

Industrial parks in the district have so far attracted 35,000 laborers, mainly young workers.Their average per capita income is between VND 6 million (USD 258) and VND 8 million (USD 345) per month.

Experts said that Binh Xuyen will become really bustling in the time ahead as businesses are flocking to the district to land their investments./.

  ( VNF/VNA )
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