Japanese Firm Gets License for US$25.6Mln Project

Japan-based Asti Corporation on November 28 was granted license to carry out a US$25.6 million electronic plant project in the northern province of Vinh Phuc.

 

The license was given during a visit to Japan by the province’s investment promotion delegation led by Vice Chairman of the provincial People’s Committee.

 

Under the license, Asti Corporation is permitted to build a factory in Quang Minh Industrial Park to produce electrical devices including home electronics, office equipment, electric generators and some small transport vehicles.

 

Asti is a group specializing in making home electronics, control equipment, telecommunications equipment and electronics for cars. Between January and October this year, as many as 10 groups from the US, Japan, China, South Korea and Australia came to Vinh Phuc for business opportunities.

 

The province has welcomed other Japanese investors like Toyota Vietnam, Honda Vietnam, Shiron and Murumitsu. In August, Honda Vietnam opened its $60 million automobile assembly plant with an annual capacity of 10,000 units, which is the first in Vietnam to make Honda cars and fifth plant of the firm in Southeast Asia after those in Indonesia, Malaysia, the Philippines and Thailand.

 

Vinh Phuc, has so far lured 438 foreign direct investment (FDI) projects worth a combined capital of $866.2 million, standing in the top ten list in FDI attraction. Vinh Phuc has built 11 industrial parks, covering 4,000ha.