Business

Vinh Phuc presents investment licence to Japanese firms

Authorities of the northern province of Vinh Phuc have granted an investment licence to investors of Kowa Global project in Binh Xuyen district’s Binh Xuyen Industrial Park (IP).
Vinh Phuc presents investment licence to Japanese firms ảnh 1An enterprise operating in Binh Xuyen IP (Source: VNA)

VinhPhuc (VNA) - Authorities of the northern province of Vinh Phuc have grantedan investment licence to investors of Kowa Global project in Binh Xuyendistrict’s Binh Xuyen Industrial Park (IP).

The project, totaling over 136 billion VND (nearly 5.86 million USD), isinvested by Japanese firms - Kowa Kasei JSC and Kowa Rubber Industries JSC.

This project will specialise in processing and conducting technical analysis andverification of rubber products, with a capacity of nearly 140 tonnes ofproducts per year. It will also provide related consulting and trading services.

It is scheduled to be completed and officially put into operation in the secondquarter of 2019, contributing 10 billion VND (430,700 USD) per year to theState budget.

Kowa Global is the 23rd secondary project wholly invested by Japan in IPs inVinh Phuc.  The project is in line withthe locality’s policy of encouraging the development of support industry.

Itwill create new products with high competitiveness in the market, contributingto promoting the province’s socio-economic development.

At present, IPs in Vinh Yen city and Phuc Yen town of Vinh Phuc have been fullyfilled. Investment projects in the province in the near future will be mainlyallocated in IPs of Binh Xuyen district.

Industrial parks in the district have so far attracted 35,000 labourers, mainlyyoung workers.  Their average per capita incomeis between 6 million VND (258 USD) and 8 million VND (345 USD) per month.

Expertssaid that Binh Xuyen will become really bustling in the time ahead asbusinesses are flocking to the district to land their investments.-VNA 
VNA
#Binh Xuyen Industrial Park #Vinh Phuc #Kowa Global project #rubber #Kowa Kasei JSC #Kowa Rubber Industries JSC #consulting and trading services #socio-economic development Vinh Phuc
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