Japanese wood processor heads to Binh Dinh

                                                    Photo: Duc Anh/Illustration

Marubeni Lumber Company to build $5 million wood panel plant at Nhon Hoi Economic Zone.

Japan’s Marubeni Lumber Company has recently leased 10 ha of land in Zone A of the Nhon Hoi Economic Zone in south-central Binh Dinh province to build a splice wood panel plant. The lease is for 50 years.

Mr. Nguyen Ngoc Toan, Deputy Director of the Binh Dinh Economic Zone Administration at the provincial Department of Planning and Investment (DPI), told VET that “the Japanese company has completed all procedures and will submit documents for investment certification before the end of the year.”

The plant’s total investment capital is to be $5 million in the first phase.

“Binh Dinh has favorable conditions for the company’s investment needs,” said Mr. Takimoto Jo, Head Representative of Marubeni Lumber Vietnam, and it hopes to receive the province’s support into the future.

According to Mr. Ho Quoc Dung, Chairman of the Binh Dinh Provincial People’s Committee, the lease is good news for Nhon Hoi and an opportunity for the province to attract more Japanese enterprises. He also pledged that the province would create favorable conditions for the project to be built and put into operation quickly.

There were five Japanese enterprises investing in local industrial zones as at the end of August, with total investment capital of nearly $30 million, according to the Binh Dinh Economic Zone Administration. Japanese companies are operating efficiently and contributing significantly to the provincial budget and creating thousands of jobs.

South Korea’s CJ Group last month conducted a fact-finding tour and sought investment opportunities in Binh Dinh. The Group has expressed an interest in investing in building an animal feed processing plant, a pig breeding farm, and a seafood processing plant.

The animal feed processing plant would be located at the Nhon Hoa Industrial Zone. CJ also proposed that provincial leaders arrange for the lease of 120 ha of land to build the pig breeding farm and requested information on the province’s investment policies.

Binh Dinh has an area of 6,039 sq km and a population of 1.51 million people. Registered FDI stood at $1.7 billion in 59 projects as at the end of 2015, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment (MPI).

The Nhon Hoi Economic Zone is located on Phuong Mai peninsula with an area of about 12,000 ha. Functional areas include industrial parks, export processing zones, areas for services, tourism, accommodation and entertainment, residential and urban areas, and administrative areas. It has a favorable investment environment and advantages in natural conditions and geographic location.

by Hong Nhung / vneconomictimes.com