Investment license awarded to Vietnam Parts Seiko project
On July 6, the Quang Ninh Economic Zone Management granted an investment license to Japan-based Parts Seiko Company.
The project of Vietnam Parts Seiko invested by Seiko Parts Company (Japan) will be implemented on an area of 1 hectare at the Song Khoai Industrial Park in Quang Yen town with a total investment capital of USD 10 million. The factory will focus on manufacturing, processing, assembling and trading metal products such as shaft brackets, shaft rings, washers, clamping belts and tapered washers.
As scheduled, the construction work will start in October 2023 and the factory is expected to be put into operation in October 2024. Its total capacity is estimated to reach 40.5 tons of products/year and products will be exported mainly to Japan and other Asian countries.
Song Khoai Industrial Park was approved by the Prime Minister in Decision No. 352/QD-TTg dated March 29, 2018, deployed on an area of 714ha in Quang Yen town (Song Khoai, Minh Thanh, Dong Mai, Cong Hoa). The project was invested and built by Amata Group, including 5 phases to be completed in 2026, with a total investment of over 155 million USD.
This industrial park has recently been chosen as a favorite destination by Japanese and Taiwanese investors. So far, 5 investors have been granted investment licenses for 24 hectares of land with a total capital of over USD 435 million.
Amata Ha Long Urban Joint Stock Company expected to attract over $1.2 billion for about 14 investment projects in 2023.
Investment in industrial parks (IPs) and economic zones (EZs) has become a new driver of growth in Quang Ninh, with various incentives offered by local authorities to attract investors.
According to economic experts, Quang Ninh is considered a strategic investment destination in Vietnam’s northern region and an important link in the Hanoi - Hai Phong - Quang Ninh northern economic growth triangle.