Quang Ninh Vietnam Attracts Additional Investment from Japan

The Quang Ninh Economic Zone Authority (QEZA) recently awarded investment certificates to two Japan projects worth USD 115 million. The presentation took place at a conference held at Song Khoai Industrial Park (IP).

One of the projects involves the establishment of a plastic moulding plant by Tenma Vietnam Co., Ltd., with a total investment of USD 56 million. Scheduled to commence operations in the second quarter of 2025, this facility is poised to contribute significantly to the local economy.

The second project is an electro-mechanical system venture by Yaskawa Electric Vietnam Co. Ltd., with a registered capital of nearly USD 59 million. Expected to be operational by April 2026, this project represents another significant investment in the region.

Quang Ninh province in Vietnam has set ambitious targets to attract investment, aiming for at least USD 3 billion in FDI capital within local IPs and 55 trillion VND (approximately USD 2.16 billion) in domestic capital. Additionally, the province aims to implement wastewater treatment and monitoring systems across all IPs.

To achieve these goals, FDI firms are encouraged to strive for a revenue target of USD 3 billion and contribute 850 billion VND to the state budget, while generating employment opportunities for over 3,000 workers.

The conference served as a platform for the QEZA to address the challenges faced by investors and gain valuable insights to capitalise on the influx of FDI. Discussions at the event covered various topics, including VAT refunds, support for enterprises to adopt solar panels, local employment opportunities, and fire prevention and control measures.

Overall, the successful attraction of $115 million USD in additional investment from Japanese investors highlights the growing confidence in Quang Ninh’s economic potential and its attractiveness as an investment destination.