Japanese Fuji Electric Viet Nam Co inaugurated a US$5 million plant in the northern province of Ha Nam on Thursday, making it the 100th project financed by Japanese enterprises in the locality.
Built over nearly 11,500sq.m in Dong Van III Industrial Zone, the Fuji Electric Industry Viet Nam plant will produce electric wires used in automation applications, switchgear components and circuit protection. These products will be exported to Japan and Southeast Asian markets.
Speaking at the ceremony, Vice Chairman of the provincial People’s Committee Truong Quoc Huy praised the investor’s efforts in launching the plant in line with its schedule, saying that the plant will contribute to speeding up local economic growth and creating more local jobs.
He vowed that local authorities will continue to create a favourable environment for the investors and others from Japan to invest and expand their production in the province.
The foreign-invested enterprises have made contributions to the province’s socio-economic development in the past, especially in restructuring the provincial economy and raising its industrial production value, authorities said.
The firms have also contributed greatly to the supporting, processing and manufacturing industries in Ha Nam, generating a large number of jobs for local workers, making remarkable contributions to the provincial budget and actively joining social activities, they said.
Over the past five months of 2019, Ha Nam Province granted licences to 40 projects, including 16 foreign-invested ones worth a total of $200 million and 24 domestic ones valued at nearly VND3.5 trillion (nearly $150 million).
As of May, the province was home to 887 foreign and domestically-invested projects, with combined registered capital of $7.7 billion. — VNS
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