12:04 | 15/10/2017 Economy
Japanese Ohtsuka Sangyo Material Corporation inaugurated its newest plant at Dong Van 3 Industrial Zone (IZ) in Duy Tien district, in the northern province of Ha Nam, on October 5.
|Ohtsuka Sangyo Material Vietnam has put into operation its newest factory in Dong Van 3 IZ in Duy Tien, Ha Nam, on October 5 - Credit: baohanam.com.vn|
This is the second among seven Japanese invested projects that has become operational at the industrial park and also one of 60 projects with foreign direct investment from the East Asian country in Ha Nam.
With a total investment of over US$4.4 million, the facility specialises in producing and assembling car seat pads and covers, with a capacity of 6 million pieces per year.
Construction for the first phase of the factory began on October 2016. Its operation has helped to create jobs for about 200 local labourers.
According to Otsuka Keiichiro, Chairman of the Board of Directors of Ohtsuka Sangyo Material, the corporation has a long history of over 300 years operating in the automotive auxiliary field. It currently holds 70% of the market share in Japan.
Products from Ohtsuka Sangyo Material Vietnam Co., Ltd in Ha Nam will be exported to Japan and American countries.
Speaking at the inauguration, Nguyen Xuan Dong, Chairman of Ha Nam provincial People's Committee, praised Ohtsuka Sangyo Material Vietnam and the related contractors who made great efforts to accelerate the construction progress in order to complete and put the project into operation on schedule.
Chairman Dong asked the Japanese company to comply with the laws of Vietnam, while paying attention to improving the material and spiritual lives of its labourers.
He added that Dong Van 3 IZ is in a favourable position for transport and has preferential policies and synchronous technical infrastructure to attract Japanese investment.
Dong also affirmed that Ha Nam has been strengthening its efforts to improve its business environment, while investing in human resources to attract Japanese investors, in addition to creating favourable conditions for projects to be implemented quickly and conveniently with the motto of investors’ interests being the target of the province’s development.