Japan-based Nidec Corporation invests in Ben Tre Province
Under the investment license, Nidec Tosok Precision Vietnam, a member of Nidec Corporation, will develop a plant producing components for auto gearboxes in over four hectares in the industrial park.
The plant worth some US$39.6 million is scheduled for operation next September, and all products will be exported.
This is the first investment of Nidec outside HCMC. Nidec has previously invested in many production plants in Saigon Hi-Tech Park (SHTP) and Tan Thuan Export Processing Zone in HCMC.
Specifically, in SHTP, Nidec has had five investment projects with total pledged capital of US$246.5 million, with four already operational and the last one, Nidec Seimitsu Vietnam, scheduled for operation late this year.
The total export revenues of the four operational projects as of May were over US$740 million, and over US$9.5 million have been paid to the city’s coffer, according to SHTP.
The expansion of Nidec’s investment to other localities, according to experts, is inevitable as the land rental in HCMC is now too high and the labor recruitment competition between businesses in HCMC is tough.
Ben Tre Province licensed eight fresh FDI projects in the January-September period with total registered capital of US$79.4 million, doubling that of the year-ago period. Besides, there were three projects having investment capital increased with total additional capital of nearly US$10 million.
During the nine-month period, the number of valid FDI projects in Ben Tre Province was 41 worth a combined US$309 million.
