Representatives of Japanese Daiwa Viet Nam and Da Nang join a ground-breaking ceremony for construction of the sports equipment factory at Hoa Khanh Industrial Zone. — VNS Photo Cong Thanh
Japanese Daiwa Viet Nam company officially commenced construction of a sports equipment factory in the central city’s Hoa Khanh Industrial Zone on Tuesday with an investment of US$40 million.
The factory – the third of its kind since Daiwa Viet Nam began investment in the city from 2005 – will be producing hi-tech sports equipment for export from the first quarter of 2022.
It helped increase total investment of Daiwa Viet Nam in Da Nang to $90 million in 2005-20.
General director of Daiwa Viet Nam, Ikeda Naoatsu, said the third factory was designed as an eco-production in line with the development of Da Nang as an eco-city in the future.
“It’s our third plant and expansion of investment in Da Nang since we began production in 2006. We specialise in manufacturing golf clubs, tennis rackets and fishing rods. This factory is the first and only fishing rod production site in Viet Nam,” Ikeda Naoatsu said at a ground-breaking ceremony.
“Our company has witnessed the rapid growth of Da Nang over the past 15 years, and the construction of the third plant in the city will be in line with the development of Da Nang in the future.”
Vice chairman of the city’s people’s committee, Ho Ky Minh, said that the city would create the best conditions for foreign companies and Japanese partners in boosting investment in Da Nang.
He said Japanese businesses were in the top-five foreign direct investment projects in the city with 52 projects worth $645 million.
Minh said the construction of the third plant of Daiwa company was evidence of close co-operation and investment between Da Nang and Japan.
Despite COVID-19, the city’s industrial zones and hi-tech park authority (DHPIZA) granted investment licences to 16 new projects with a total of $95.6 million in 2020.
A design of the sports equipment production factory invested by Japanese Daiwa Viet Nam company in Da Nang. The company has invested in three plants in the city with total investment of US$90 million in 2005-20. Photo courtesy of Pham Truong Son
DHPIZA has attracted 491 projects, of which 128 were FDI projects worth $1.6 billion, and 363 from domestic investors with VND26.17 trillion ($1.14 billion).
Japanese enterprises operating at six industrial zones and a hi-tech park employ over 32,000 workers.
Tokyo Keiki Inc and Niwa Foundry were the first two investors in the 1,010-ha Hi-Tech Park with a total investment of $62 million.
Authorities in Da Nang approved an investment proposal by Fujikin Incorporated from Japan for an R&D centre at Da Nang High-Tech Park worth a total of $35 million. — VNS