On the afternoon of March 11th, in Quang Yen town, Quang Ninh province, Amata Ha Long Urban Development Corporation and IKO Thompson Vietnam Co., Ltd. signed a contract to lease land use rights to implement an investment project at Song Khoai Industrial Park.
Accordingly, Amata Ha Long Urban Development Corporation will lease land use rights with an area of 3 hectares at Song Khoai Industrial Park back to IKO Thompson Vietnam Co., Ltd. to implement the project of building a linear motion bearing and mechanical equipment manufacturing plant.
It is expected that IKO Thompson Vietnam Co., Ltd. will start construction of the factory in mid-2025 and put it into operation in early January 2026 with a design capacity of 930 tons of products per year. The total investment capital is $57 million, equivalent to nearly 1,400 billion VND.
As a long-term experienced enterprise in the industrial production in Japan, the presence of IKO Thompson Vietnam at Song Khoai Industrial Park is a positive sign for attracting more investors from Japan in the coming time.
Large Industrial Park on the way to become a city
The investment project of construction and business infrastructure of Song Khoai Industrial Park was approved by the Prime Minister in Decision No. 352/QD-TTg (dated March 29, 2018) and was granted an investment registration certificate for the first time by the Quang Ninh Industrial Zone Management Board on March 29, 2018. It was further granted the third amendment certificate on April 17th, 2020, with a total investment capital of $155.5 million (equivalent to 3,535 billion VND).
Song Khoai Industrial Park is planned with a land use area of 714 hectares, divided into 5 phases for land clearance and investment, completing infrastructure investment in 2026. As of December 2023, Quang Yen town has implemented land clearance work for 4 phases of the industrial park and completed the handover to the investors for 385.72/714 hectares, reaching 54.02%.
Along with technical infrastructure investment, the investor of Song Khoai Industrial Park also promotes promotion activities to attract investment to the area in the spirit of the development orientation of the province, choosing investors with capacity, experience, and application of high technology, clean industry.
By the end of 2023, Song Khoai Industrial Park has attracted 15 second-tier FDI projects, with a total registered investment capital of over $2.3 billion, a total land use area of 132.5 hectares, and an average investment capital of $17.98 million per hectare of industrial land. In 2023 alone, the industrial park has attracted 13 new FDI projects and adjusted 2 projects, increasing additional capital of $5 million, with a total attracted investment capital of over $1.4 billion. This capital flow alone accounted for 45% of the total FDI capital into Quang Ninh this year.
Among the total of 15 second-tier FDI projects invested in Song Khoai Industrial Park, up to now, 2 projects have been put into operation. They are the Jinko Solar Vietnam Optoelectronic Cell Technology Project (Jinko 1) and the Silic Sheet Technology Project Jinko Solar Vietnam (Jinko 2) of Jinko Solar Industry Co., Ltd (Vietnam), creating employment for about 4,000 workers, with an average income of 13 million VND/person/month. The remaining 13 projects are in the process of carrying out legal procedures and implementing construction.
It is expected that the province will develop a plan to attract FDI capital into Song Khoai Industrial Park in 2024, with a total registered capital of over $1.5 billion, in the fields of processing, manufacturing, electronic component production, automobile, supporting industries, and high-tech industries from Japan, South Korea, Taiwan, and the United States…
Notably, this industrial park is in Quang Yen town – the locality that is striving to become a city in 2025, a type II urban area before 2030.
