Nankai tools up to think big support

April 09, 2012 | 09:43

(0) user say

We will receive the official investment proposal after this feasibility study. Nankai Kinzoku’s factory will not only serve Vietnamese customers, but also supply components for other foreign manufacturers.- Le Huu Loc Vice Chairman of Binh Dinh Provincial People’s Committee

Japan’s Nankai Kinzoku Company plans to build a machinery factory in Binh Dinh province to supply Japanese manufacturers. Zenrou Yanagi, general director of Nankai Kinzoku, last week visited the central province to eye up a site to manufacture agriculture, construction and automotive components.

Binh Dinh Provincial People’s Committee Vice Chairman Le Huu Loc said the Osaka-based firm had reported that Binh Dinh met all of its infrastructure, geographical position and labour requirements.
“We will receive the official investment proposal after this feasibility study. Nankai Kinzoku’s factory will not only serve Vietnamese customers, but also supply components for other foreign manufacturers, especially Japanese ones operating in Vietnam,” said Loc.

The project will be a shot in the arm for Binh Dinh’s puny manufacturing industry. The province has been developing an economic zone offering special incentives to foreign and domestic investors and upgrading a seaport to accommodate up to 30,000 dead weight tonnage vessels.

But, the carrot is insufficiently big to attract foreign companies. The Ministry of Planning and Investment’s Foreign Investment Agency statistics show that only 46 foreign investors dropped anchor in Binh Dinh, with projects worth $661.4 million.

A lack of supporting industries was a turn off for investors. But, Loc said Nankai Kinzoku would attract many Japanese companies to the province. In a bid to attract more Japanese investors, the local authorities plan to hold an investment promotion workshop in Japan in November and another one in June, 2013.