Japanese investors pour fund in Da Nang projects

Yamato Sewing Machine Manufacturing Company from Japan plans to build a factory in Da Nang Hi-Tech Park providing sewing machines, spare parts and accessories as well as automotive equipment in sewing industry.

Three Japanese investors agreed to invest nearly USD 140 million in hi-tech industry and tourism projects in Da Nang.

The city’s Investment Promotion Agency (IPA) confirmed that the firm is the third Japanese investor at the park.

It said Yamato will soon commence construction of the project on an area of 2.85ha with total investment of USD 28 million.

Yamato has had representative offices in Hanoi and Ho Chi Minh City since 2007.

The 1,010-ha park in Hoa Vang district, 20km west of the city, attracted six projects valued at USD 180 million from two Japanese and four domestic investors between 2012-16.

According to the IPA, two Japanese companies – Mikazuki and Katsuura – will start construction of a complex of hotel, entertainment and beach resort on 24.5ha in Lien Chieu district with total capital of USD 110 million next year.

Japan is the second largest investor in Da Nang with 134 projects worth USD 598 million./.

( VNF/VNA )