First project opens in Da Nang Hi-tech Park

Friday, May 22, 2015 18:30

First batch of products are manufactured at the Keiki Precision Technology Inc in Da Nang. — Photo Bao Da Nang
DA NANG (Biz Hub) — Tokyo Keiki Precision Technology Inc. inaugurated its first plant outside Japan at the city 's Hi-Tech Park on May 22, following eight months of construction.

The US$40-million plant is the first to being operating in the 1,010-hectare park in Hoa Vang District, 20km west of the city centre.

The plant will manufacture electro-magnetic and hydraulic equipment, targeting to export more than 50,000 digital directional valves per month for the Asia-Pacific region.

According to members of the managing board of the Hi-Tech Park, another Japanese investor, Niwa Foundry company, a partner of Keiki company, also has begun construction of its first engine castings plant, at a cost of US$30 million.

It's scheduled to be put into operation in 2016.

Japanese businesses have invested US$330 million in 68 projects in the city, employing more than 27,000 people.

The city has reserved a 100-hectare industrial park for Japanese businesses and a Japanese Culture Centre, as well as more favourable conditions and priority offerings for Japanese investors.

Exports from Japanese enterprises accounted for 37 per cent of the city's total imports, while 30 per cent of the city's industrial production value comes from Japanese FDI projects. — VNS

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