Japanese sporting goods company Daiwa Vietnam recently commenced the construction of its third plant in Vietnam. Worth USD 40 million and located in Hoa Khanh Industrial Zone, the project covers 4 hectares and is expected to be producing hi-tech sports equipment for export from the first quarter of 2022.
At the groundbreaking ceremony, General Director of Daiwa Vietnam, Mr. Ikeda Naoatsu, announced that the new plant will be an eco-production in line with Da Nang’s development as an eco-city in the future. With this new investment, Daiwa Vietnam’s total investment in Da Nang grows to USD 90 million between 2005 and 2020.
Addressing the breaking-ground ceremony, Vice Chairman of Da Nang’s People’s Committee, Mr. Ho Ky Minh, said the municipal authorities will work to create favorable conditions for the construction of the project.
In 2020, despite COVID-19, Da Nang’s industrial zones and hi-tech park authority (DHPIZA) granted investment licenses to 16 new projects, raising the total to 491 projects, of which Japanese investors own 52 projects worth more than USD 644 million.
(Sources: Vietnam Investment Review; Saigon Times)
Daiwa Builds USD 40 Million Sports Equipment Factory in Da Nang City
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