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Bright prospects for attracting Japanese investment

As a leading economy in the world, Japan has always been a strategic partner in attracting investment of Vietnam in general and of Quang Ngai province in particular. After the success of some Japanese investors in Dung Quat EZ and Quang Ngai IPs such as Sumida, Foster, Kizuna, etc. In 2018, Dung Quat EZ and Quang Ngai IPs continue to be a destination for many Japanese enterprises.

New waves of investment

Dung Quat Economic Zone and Quang Ngai Industrial Parks Authority (DEZA) has just granted investment certificate for the project of Hoya Lens Vietnam Ltd., (belongs to Japan Hoya Group) with the total investment of 138 million USD. This is the largest FDI project in 2018 and is also the project with the largest investment from Japan in Dung Quat EZ and Quang Ngai IPs ever. The factory specializing in manufacturing a number of high quality optical products (Eyeglass Lens) in the fields of health, electronics, optics will be built on an area of 8ha, in VSIP Quang Ngai.

Chairman of the provincial People’s Committee Tran Ngoc Cang and Mr. Nguyen Minh Tai – Chairman of DEZA grant investment certificate to Hoya Lens Vietnam Co., Ltd

Also in VSIP Quang Ngai, Ogawa Pipe Co., Ltd. (Japan) invested in the project of Dung Quat Nipplex pipe fitting factory, with a total registered capital of more than 7 million USD. The project specializes in producing metal pipe (joints) including types of: external threaded pipe, internal threaded pipe and connecting fittings, etc. The factory is over 1ha; be expected to go into operation in the fourth quarter of 2019.

After the survey of investment at the end of January 2018, Fujikura Automotive Asia Co., Ltd. (belonging to Fujikura Group – Japan) decided to invest in Dung Quat EZ and Quang Ngai IPs. The factory of Electric wire, cable assembly of Fujikura Automotive in Asia was granted the Investment Certificate by DEZA in November 2018. Their project has a total investment of 12 million USD, was built on the area of 2.5ha in Tinh Phong Industrial Park.

Le Han Phong – Vice Chairman of DEZA grant the investment certificate to Ogawa Pipe Company Limited.

In addition, in the past year, many Japanese investors came to Dung Quat Economic Zone and Quang Ngai Industrial Parks to explore investment opportunities such as Showa Denko Group (The investment in CO2 and dry ice CO2 using for food preservation), Daiwa Seiko Inc. (the investment in sports equipment), etc.

To catch the opportunities

Sharing the decision to invest in Dung Quat Economic Zone and Quang Ngai Industrial Parks, Mr. Gil Tarias – General Director of Hoya Lens Vietnam Co., Ltd. said: VSIP Quang Ngai in Dung Quat Economic Zone has a clean land fund and synchronous infrastructure. So that they could build their factory right away. That is the reason why the Group decided to invest a strategic factory in Dung Quat EZ.

Also according to Mr. Sato Tadashi – General Director of Fujikura Automotive Asia Co., Ltd.: The company has surveyed many EZs, IZs of Central region but the reason for choosing to invest in Dung Quat EZ and Quang Ngai IPs are attractive investment policy, clean land fund, synchronous infrastructure and Dung Quat deep-water seaport.

In Dung Quat EZ and Quang Ngai IPs, Japan is one of the countries with many invested projects, 9 projects. In particular, there are a number of projects operating effectively such as the projects of Sumida Electronics Co., Ltd., Foster Electric Quang Ngai Co.,Ltd, Kizuna Quang Ngai Joint Stock Company, etc.

Mr. Nguyen Minh Tai – Chairman of DEZA said that in Dung Quat Economic Zone and Quang Ngai IPs, the fields and sectors calling for investment from Japan are: petrochemical and chemical industries; metal production and steel processing; footwear, textiles; investment in industrial park infrastructure, cars, electronic components, telephone, etc.

Foster Electric Quang Ngai Co.,Ltd.

In the future, in order attract investment from Japan, in addition to strengthening the connection, and directly knocking on the investors doors, Quang Ngai province as well as DEZA will continue to promote investments through existing investors invested in the Dung Quat economic zone and Quang Ngai industrial parks, mobilize enterprises by enterprises. At the same time, closely coordinate with infrastructure investors such as VSIP Quang Ngai and Hoang Thinh Dat, Dae Young E&C (South Korea) in attracting investment. To attract and support investors to early deploy the project of Dung Quat international container port.

In parallel with the investment attraction,  DEZA will accelerate the progress of investment in infrastructure, to gradually improve the infrastructure to attract investment. In particular, focusing on completing Tri Binh – Dung Quat Port; to start the project of Dung Quat sand protection (phase 2) and Dung Quat 1 inter-port route; to complete procedures to start the route from Doc Soi to Chu Lai airport to shorten the distance between Chu Lai airport and Quang Ngai province.

By T.Giang

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Editor:Mr.Dam Minh Le - Vice Chairman
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