Quảng Ninh attracts additional $115 million from Japan investors

Saturday, Apr 20, 2024 14:02

The QEZA presented the investment registration certificate to the Yaskawa Electric Vietnam Co. Ltd. — Photo baodautu.vn

The Quảng Ninh Economic Zone Authority (QEZA) presented investment certificates to two Japanese projects worth US$115 million in total at a conference held at Sông Khoai Industrial Park (IP) on Friday.

One of the two projects is a plastics molding plant invested by Tenma Vietnam Co., Ltd. at a total cost of $56 million. It will become operational in the second quarter of 2025.

The other is an electro-mechanical system project invested by Yaskawa Electric Vietnam Co. Ltd., which has total registered capital of nearly $59 million, and will be put into operation in April 2026.

Quảng Ninh Province wants to lure at least $3 billion in FDI capital into local IPs and VNĐ55 trillion ($2.16 billion) in domestic capital, while targeting wastewater treatment and monitoring systems installed at all of the IPs.

The province urged FDI firms to work towards the target of $3 billion in revenue and $850 billion in state budget contribution, and job generation for more than 3,000 workers.

The conference also helped the QEZA to gain a better insight into their difficulties, and better grasp the opportunity to ride the FDI capital wave.

At the event, participants discussed and responded to inquiries from investors, including the value added tax refund, support mechanism for enterprises to install solar panels, job demands of local people, and fire prevention and control procedures. — VNS

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