Southern region greets string of high-tech projects

Economy, Vietnam, Vietnam Finance News

A raft of high-tech projects has received investment certificates and approval for raising capital in the last months of 2017.

More and more foreign investors are injecting capital into high-technology

Early this month, Bosch Vietnam Limited, part of German industry giant Bosch Group, announced increasing investment in Vietnam by EUR58 million ($67 million) to build a new workshop at its existing facility in Long Thanh Industrial Park in the southern province of Dong Nai in early 2018.

From April 2008 to March 2017, the Dong Nai factory turned out 20 million power transmission belts.  

Bosch has expanded investment in the Dong Nai facility several times, with the most recent addition of $47 million in June this year, to meet the growing demand from automobile enterprises in Southeast Asia and Asia.

With the latest capital injection, the company’s total investment in Vietnam touches EUR321 million ($372 million), making Bosch the biggest investor in high-technology in Dong Nai.

Meanwhile, Saigon HighTech Park (SHTP) has recently granted investment certificates to four new high-tech projects.

Accordingly, Echigo Vietnam JSC poured $10.6 million into a high-precision mould manufacturing project with an annual capacity of 240 moulds and 100 million parts.

THT Precision Engineering Co., Ltd. was approved to develop precision engineering products for hi-tech engines and machines. The project, worth $12 million, aims to manufacture at least 600,000 drive shafts a year.

APC Industry Corporation invested $7.5 million in a plant to manufacture high-tech equipment such as motors, electric generators, transformers, and electrical distribution and control equipment.

Duy Khanh Engineering Co., Ltd. will build a precise mould and machinery plant at a total cost of more than $5.2 million.

According to Le Hoai Quoc, head of the SHTP Management Board, investment in supporting industries and precision engineering is particularly encouraged.

SHTP is accelerating the development of a 197-hectare science and technology park as the second hi-tech park in the city. The project is expected to open to investors in the third quarter next year.

In addition, the first-phase of the SHTP-based Saigon Silicon City project has been completed and will call for investment early next year. The facility is expected to draw 20 projects, worth around $1.5 billion, in supporting industries and high technology.

This June, the Dong Nai People’s Committee approved Long Thanh High-Tech Park’s 1/2,000 zone planning. The developer is Thai-backed Amata Vietnam JSC.

The project, licensed in July 2015 with more than $282 million in total registered capital, aims to attract high-tech projects employing environmentally friendly technologies.  

By Hong Son

QB05

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