Quảng Ninh attracts additional $115 million from Japan investors

April 20, 2024 - 13:48

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.

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

QUẢNG NINH — 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

Tags Quang Ninh Quang Ninh foreign investment foreign-invested projects

Việt Nam, China ink protocol on railway transport cooperation

Economy

133 enterprises honoured with National Quality Awards 2021-2023

Economy

PM orders swift resolution of challenges for renewable energy projects

Economy

Việt Nam’s growth prospects remain resilient amid global challenges: forum

Economy

1,200 apartments in two projects in Hà Nội open for purchase by foreign nationals

Economy

Market declines for the third consecutive session

More on this story

Economy

Chu Lai Port helps take Vietnamese agricultural products to global market

By applying various solutions to increase logistics capacity to facilitate export of farm produce, Chu Lai Port is gradually asserting its role as a specialised reefer container port for agricultural export, solving the problem of logistics costs for businesses.

Economy

Việt Nam to have many opportunities from digitalisation, green transformation: IMF

Việt Nam’s economic growth is predicted to expand by about 6 per cent this year based on numerous potentials, significant foreign direct investment, and ongoing efforts to improve the business environment and infrastructure.

Economy

Proposal to abolish quotas on Vietnamese shrimp imported into South Korea

For key shrimp products alone, 34-48 per cent of Vietnamese shrimp output imported into South Korea is subject to an out-of-quota tax of 20 per cent in the 2016-2023 period.

Economy

VN sees great potential for development of electric motorbikes

The potential for developing the electric motorbike market in Vietnam is significant. As the government encourages the adoption of electric vehicles and consumers become more conscious of environmental issues, there is a growing demand for electric motorbikes.

Economy

Việt Nam expects a boom in affordable homes for low-income earners

The amended Law on Real Estate Business, the Law on Land and the Law on Housing will help resolve problems, maximise resources and promote the development of the property market and the affordable segment.

Economy

350 exhibitors join Vietnam Medipharm Expo 2024

They will showcase a wide range of products including pharmaceuticals, medical machinery, and equipment; hospital services, medical tourism, dental, laboratory, analytical equipment, cosmetics, and beauty care equipment in 550 booths.

Economy

SBV turns on mood for market intervention to stabilise exchange rates

The global political and economic situations have caused the currencies of many countries to depreciate significantly, including those of strong economies, by around 3-9 per cent. Việt Nam is no exception with the Vietnamese đồng losing 4.9 per cent against the US dollar compared to the beginning of the year.