DEEP C ties up with Japanese investors

Wednesday, Jun 21, 2023 11:54

DEEP C Industrial Zones and IHI Co Ltd signed the MoU. — Photo courtesy of DEEP C

DEEP C Industrial Zones signed memorandum of understanding (MoUs) with Japanese companies IHI Co Ltd and TBM Co Ltd with an aim to cooperate on solving environmental issues in Hai Phong.

The signing took place within the framework of the Hai Phong - Japan Investment Promotion Conference 2023, co-organised by Hai Phong People's Committee, Vietnamese Embassy in Japan, the Japan Trade Promotion Organisation (JETRO) and the ASEAN - Japan Center (AJC) from June 15 to 18, 2023, in the northern port city of Hai Phong.

With various products and technologies that contribute to CO2 reduction, IHI will study clean energy solutions that will be effective in DEEP C Industrial Zones. On the other hand, TBM is commercialising new materials and recycled materials that can replace plastic and paper. It will consider the business feasibility of the resource recycling business in DEEP C and Viet Nam.

Hai Phong, the third largest city after HCM City and Ha Noi, has a population of more than two million. For the city, reducing the environmental impact of corporate activities while attracting new investments has become an important issue.

DEEP C Industrial Zones and TBM Co Ltdsigned the MoU. Photo courtesy of DEEP C

Nearly 150 Japanese businesses, investors, investment promotion organisations, trade, investment consulting agency that are interested in business expansion to Viet Nam participated in the conference. They were provided with direct access and connection with industrial zone developers and Japanese companies that have already entered the market.

Japan is now the second largest investor in Hai Phong with 151 projects and US$5.23 billion. So far, 18 Japanese companies, including market leaders like Bridgestone, Shin-Etsu, ENEOS, and Nippon Express have based their facilities in DEEP C.

DEEP C Industrial Zones is a cluster of industrial zones developed by Belgian investors (Rent-A-Port, Ackermans-Van Haaren) in Hai Phong City and Quang Ninh Province. Dinh Vu Industrial Zone, the first project of DEEP C in Hai Phong, was founded in 1997 under the collaboration with Hai Phong People’s Committee.

Over the last 26 years, DEEP C has established itself as one of the biggest industrial zone developer groups in Viet Nam. DEEP C consists of five subprojects with over 3,400 ha of industrial land in the industrial area upstream of the Lach Huyen Port.

DEEP C has taken big steps to become an eco-industrial park, among these steps are new ventures into energy transition, industrial symbiosis, waste management, resource efficiency and cleaner production, climate change response.

DEEP C is now home to more than 150 investment projects, with total investment of over $5.5 billion.

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