DA NANG — The Viet Nam Tokai company started on a plant to make plastic and rubber spare parts and accessories for automobiles at Da Nang's Hoa Cam Industrial Zone yesterday.
The plant, which covers an area of 47,000sq.m with a total investment of US$10 million, will be put into operation next March and provide accessories for car makers in Viet Nam and the Southeast Asian region.
It's the fifth plant of Tokyo-based Tokai Kogyo in the world and the third in Southeast Asia after Thailand and Indonesia.
"We selected Da Nang as our location for the plant because the city is situated in the central region of Viet Nam and at the end of the East-West Economic Corridor – linking Myanmar, Thailand, Laos and Viet Nam," general director of Viet Nam Tokai company Isao Takahashi said at the ground breaking ceremony yesterday.
Vice chairman of Da Nang people's committee Phung Tan Viet said the plant's project received its business license just after an hour – the quickest case.
"The project will help to boost industrial production and exports in the city. We will offer the most favourable conditions to lure more investors from Japan and the world," Viet said.
The city currently has 54 investment projects from Japan worth $252 million – the fourth biggest investment of the city's total foreign investment capital of $3.45 billion. — VNS