Nidec Group to pour $200 million into Hoa Lac Hi-Tech Park

Nidec Techno Motor Corporation’s investment in Hoa Lac Hi-tech Park will start development this month and is expected to be launched in next January.

Japan’s Nidec Group has just received the investment certificate for the Nidec Techno Motor Vietnam project in Hoa Lac Hi-Tech Park to develop and produce brushless electric DC motors with the total investment of $200 million.

Nidec Group plans to invest in five projects with the total investment of around $1 billion in Hoa Lac Hi-Tech Park. Nidec Techno Motor Vietnam is the first of these projects to be granted a certificate.

These projects will create tens of thousands of jobs and boost export turnover, contributing to the development of the support industry and socioeconomic development of Hanoi city.

Nidec was established in 1973 and is one of the leading global hi-tech companies on motor manufacturing, while Nidec Techno Motor specialises in air conditioner motors and industrial motors, and now has a leading share of the global market for brushless DC motors used in air conditioners.

In Vietnam, Nidec is also a key investor in Ho Chi Minh City Hi-Tech Park with five factories and the total investment of over $380 million for manufacturing precision engineering in the microelectronics industry.

Hoa Lac Hi-Tech Park has been rather successful in attracting investment. According to the project management unit of the park, last year three projects were granted a certificate with the total investment of VND5.053 trillion ($222.6 million) and area of 11.7ha. During the first four months of 2018, four projects were granted investment certificates with the total investment of VND10.918 trillion ($481 million) on an area of 15.4ha.

Currently, the park is home to 83 projects with the total registered capital of $3.4 billion. Hoa Lac Hi-tech Park is the first and the largest high-tech facility in Vietnam, spanning 1,586 hectares.

Source: vir.com.vn