14 Jul Issuance of Investment Certificate for Taiwanese enterprise in Dong Mai industrial park
On July 12th, 2016, Vietnam Vega Balls company under Taiwan Yuan Chi Group was officially granted with investment certificate in Dong Mai Viglacera Industrial Park.
Chi Yuan Group was established in 1949 and well known for the production of sports equipment, especially for basketball products. Currently, Yuan Chi Group has 3 factories in China, two factories in Thailand, and is ranked in the Top 5 leading manufacturers of basketballs, exporting mainly to the US and European markets.
Yuan Chi Group representative said, “With the increasing demand from major sports brands in the world, the Group has decided to invest another factory in Vietnam. Since 2015, we have examined a lot of industrial parks in Hai Phong, Hai Duong, Vinh Phuc provinces and finally considered Dong Mai Industrial Park as the best choice because its proximity to 2 large ports in the North of Hai Phong and Cai Lan makes it convenient for exporting, particularly the highway connected from Halong to Hanoi – Hai Phong expressway is under construction and expected to complete by the end of 2017, it will shorten the distance from the Park to Hanoi within 1 hour and 30 minutes. Vietnam Vega Balls project will have a total investment of 330 billion vnd with an area of 32.400m2 for phase 1. We expect to expand the factory as and when it is in good operation. Vietnam Vega Balls factory is scheduled to be put into operation by early 2017 “.
Dong Mai Industrial Park located on highway 18 of Quang Yen Town, Quang Ninh province has an area of 160ha. Currently Dong Mai Industrial Park has Yazaki Corporation – a biggest Japan’s manufacturer of electric wires used in automobiles for world leading automobile companies, since 2013, and it plans to increase production in 2017.
From early 2016 to the present, Dong Mai Industrial Park has welcome a large number of investors from Korea, Japan, Germany to survey and consider their investment plan here because big investors have overseen the trend to push up foreign investment by Quang Ninh province in the next few years by upgrading and building new highways, SIS international school, Vinmec International Hospital, Ocean Park – top 5 Asia’s largest park and Van Don airport which is urgently in process to complete by late 2017 and early 2018. In addition, it takes only 20 -30 minutes from Dong Mai Industrial Park to get to Cai Lan and Hai Phong ports – 2 largest ports in the North where the operation capacity is reported up to 8 million tons/year. This is one of the attractive strategic advantages, promising an ideal destination for investors who wish to export goods by sea.