The Ba Thien II Industrial Zone in Binh Xuyen district of Vinh Phuc province (Source: bathien2ip.vn)VinhPhuc (VNA) – Construction of a factory manufacturing metal components recentlykicked off at the Ba Thien II Industrial Zone in Binh Xuyen district of thenorthern province of Vinh Phuc.
Coveringan area of 40,000sq.m, the TKR Vietnam is being built with an investment worth8.8 million USD, funded by the TKR Corporation from Japan.
It is setto be inaugurated in the second quarter of 2019. Once operational, it isexpected to turn out 6 million products per year and generate jobs for about2,000 labourers.
SeveralJapanese firms have poured investment into Vinh Phuc province, creating morecareer opportunities for young local workers.
As of February 2018, Vinh Phuc was home to 278 projects worth over 4billion USD invested in by 16 countries and territories. Of these projects, 31 werefunded by Japan at a combined value of 816 million USD.
Statisticsfrom the provincial management board for industrial zones show that in the firstquarter of the year, licences were granted to nine new foreign directinvestment (FDI) projects with a total registered capital of 45.11 million USD,meeting 17 percent of the target for the whole year.
Theprovince also granted licences to two domestic direct investment (DDI) projectswith a total registered capital of 85.9 billion VND, an increase of 4.3 times overthe same period last year.
Of thenew projects, 10 were for electronic spare parts production and the other, formechanics manufacturing.
So far,the province has had 46 DDI and 200 FDI projects in its industrial zones. -VNA
