Japanese Firm Licensed to Build US$39.9Mln Motor Factory in Danang

Japanese Firm Licensed to Build US$39.9Mln Motor Factory in Danang

Authorities of Danang City in central Vietnam have recently granted an investment license to Japan's Mabuchi Motor Co. to invest in a motor factory in the city's Hoa Khanh Industrial Park.

The project has a registered investment capital of US$39.9 million, a legal capital of US$20 million and a lifespan of 40 years. This is the largest-ever investment project in Hoa Khanh Industrial Park.

"We will begin work on the factory in June this year so that it will become operational by January 2006," said general director Kamei Takashi, adding that the factory will provide 5,800 jobs and will produce 308 million motors and motor parts a year.

Hoa Khanh Industrial Park has this year attracted two new investment projects with a combined pledged investment of US$52.89 million and licensed two existing projects to raise their investment by US$5.8 million.

Danang attracted one foreign direct investment (FDI) project with a registered investment capital of US$3 million in the first two months of this year, raising the number of FDI projects in the city to 62, capitalized at US$392 million.
Vietnam & World Economy