Ready-built factories offered to foreign investors

Monday, Aug 16, 2021 08:08

A factory of Hatsuta Seisakusho is put into operation at Da Nang Hi-tech Park. Long Hau Corporation had built factories for rent on 10,000 sq.m in the first phase at the park in 2019-20. — Photo courtesy of Peter Tuyen

Despite a series of interruptions and delays due to COVID-19 in 2021, Long Hau Corporation has begun construction of the second phase of hi-tech ready-built factories for rent.

The plants cover 10,000sq.m and seek to attract investment from the US and Europe to the Da Nang Hi-tech Park in the second quarter of 2022.

It said the second phase will provide working space for foreign direct investors operating in hi-tech support industries, including the production of solar cells, electronics, circuit boards, precision mechanics, nano tech and new materials for renewable energy industries.

In the first phase, which debuted on 10,000sq.m from March 2020, factories have already been leased to two investors from Japan – Inaba Rubber Viet Nam and Hatsuta Seisakusho – for manufacturing projects with total investment of US$11.13 million.

Peter Tuyen, from Long Hau Corporation, said it was in negotiations with investors from the US and Europe for opening factories at the Long Hau-based manufacturing space in June 2022.

He said COVID-19 interrupted the company’s plans and delayed five Memorandums of Understanding (MoU) for projects that had already inked with investors before the fourth outbreak occurred in Da Nang.

Tuyen said at least 15 factories have been scheduled for handing over to investors from the second quarter of next year.

He said Inaba Rubber Viet Nam has successfully shipped the first cargo of waterproof rubber for cars to Japan in July, and the second batch would be sent to Japan by air in August.

According to Long Hau Corporation, the local logistics investor has committed an investment of $46.4 million for factory space ready for hi-tech small- and medium-sized enterprises operating in support industries at the Da Nang hi-tech park.

Tuyen said his company would support new investors at the park with a one-stop shop procedure and assistance to accelerate initial investment preparations.

The 1,184ha hi-tech park in Hoa Vang District, 20km west of the city, has favourable connections with sea and airport systems of Da Nang as well as the Da Nang-Quang Ngai Expressway; the Chan May Economic Zone in Thua Thien-Hue, the Chu Lai Economic Open Zone in Quang Nam and the Dung Quat Economic Zone in Quang Ngai Province.

Tuyen also said Da Nang has high potential for ready-built factories for rent as the park has been designed as a ‘green’ and hi-tech hub for investors in economic recovery in the post COVID-19 period. — VNS

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