Construction underway at Japanese towel factory in Quang Ninh

                                           Photo: Dai Dong Vietnam Company

First Japanese project at Texhong Hai Ha Industrial Park to commence operations in May next year.

The Dai Dong Vietnam Company under Japan’s AZ Group has kicked-off construction of a high-quality towel factory at the Texhong Hai Ha Industrial Park in the northern province of Quang Ninh.

With total investment of $50 million the factory will use advanced technology from Japan and Switzerland and be the largest towel production facility in Southeast Asia.

The company expects turnover of $50 million each year and to create 1,000 jobs, including 860 for local people.

The first Japanese project at Texhong Hai Ha, construction will be completed and the plant put into operation by May 2017.

Quang Ninh province granted investment licenses to six foreign investment projects in August with total registered capital of over $153.6 million.

In the first eight months of this year it had 820 newly-registered enterprises with total capital of $250.45 million, up 18 per cent against the same period last year.

As at August 20, 1,619 new projects had been granted investment certificates with total registered capital of $9.795 billion, up 24.3 per cent year-on-year, while 770 existing projects added a total of $4.571 billion to their investment capital, or 83.7 per cent of the figure in the same period last year.

In the first eight months, total new and additionally registered capital therefore reached $14.3 billion, up 7.7 per cent year-on-year.

Japan ranked third, with total new and additional capital of $1.46 billion, accounting for 10.1 per cent.

by Huyen Thanh / vneconomictimes.com