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Vĩnh Phúc grants investment certificate to Japanese investors

Update: August, 30/2018 - 12:00
A view of Bình Xuyên Industrial Zone in Bình Xuyên District, Vĩnh Phúc Province. — Photo binhxuyen.vinhphuc.gov.vn
Viet Nam News

HÀ NỘI — The management board of industrial parks in the northern province of Vĩnh Phúc on Wednesday granted an investment certificate to Japanese investors of Kowa Global project in Bình Xuyên Industrial Zone, Bình Xuyên District.

The Kowa Global project has a total investment capital of over VNĐ136 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 VNĐ10 billion per year to the State budget.

Kowa Global is the 23rd secondary project with 100 per cent capital invested into industrial parks in Vĩnh Phúc 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 Vĩnh Yên and Phúc Yên cities have been filled up. Investment projects in Vĩnh Phúc Province in the near future will be largely transferred to industrial parks of Bình Xuyên District.

The industrial zones in Bình Xuyên have attracted 35,000 workers, mainly young workers. The income of workers ranges from VNĐ6 to VNĐ8 million per person per month. — VNS

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