The management board of industrial parks in the northern province of Vinh Phuc on Wednesday granted an investment certificate to Japanese investors of Kowa Global project in Binh Xuyen Industrial Zone, Binh Xuyen District.

The Kowa Global project has a total investment capital of over VND136 billion (US$5.83 million), invested by Kowa Kasei Joint Stock Company and Kowa Rubber Industries Joint Stock Company.

The project specialises in processing, analysing and technical testing of rubber products, with a scale of nearly 140 tonnes of products per year.

The project will be put into operation in the second quarter of 2019 and is expected to contribute VND10 billion per year to the State budget.

Kowa Global is the 23rd secondary project with 100 per cent capital invested into industrial parks in Vinh Phuc Province. It is in line with the policy of encouraging the development of auxiliary industries of the province.

At the same time, it will create new products that are competitive in the market, contributing to the socio-economic development of the northern province.

In the future, the management board of the provincial industrial parks will take the initiative in coordinating with concerned agencies to create favourable conditions as well as promptly solve difficulties and obstacles for investors in the process of implementing investment procedures and regulations of Vietnamese law.

At present, industrial parks in Vinh Yen and Phuc Yen cities have been filled up. Investment projects in Vinh Phuc Province in the near future will be largely transferred to industrial parks of Binh Xuyen District.

The industrial zones in Binh Xuyen have attracted 35,000 workers, mainly young workers. The income of workers ranges from VND6 to VND8 million per person per month. — VNS