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Tamagawa Vietnam, a subsidiary of Japanese sensor manufacturer Tamagawa Seiki, began construction of its $35 million factory in the northern province of Quang Ninh on May 17.
The project will cover an area of 6.27 hectares in Song Khoai Industrial Park (IP) in Quang Ninh and will specialise in producing angle sensors for electrical vehicle engines following an investment of $35 million.
The factory is slated to go into operation in the second quarter of 2025 and is expected to produce around 14.5 million units per year.
Tamagawa Seiki has been manufacturing and selling products in the industrial, aeronautical, space, and defence industries since 1938 with a focus on precision machinery such as high-precision sensors, motors, and gyros.
Yasuo Hagimoto, chairman of Tamagawa Vietnam, said, "The Tamagawa Vietnam factory was approved last November with thanks to the support of local authorities and the IP operator. This new factory is expected to be at the centre of the group's global production and business strategy."
With this latest investment, Song Khoai IP is now home to 18 projects from 15 different investors, with an increasing number of Japanese firms setting up production there.
In April, Quang Ninh Economic Zones Management Board issued investment certificates for two new Japanese-invested projects in Song Khoai IP.
Tenma Vietnam will inject $56 million into a plastic moulding factory, which is slated to become operational in the second quarter of 2025, while Yaskawa Electric Vietnam Co. Ltd. will pour nearly $59 million into an electro-mechanical system plant expected to be up and running by April 2026.
Japan's IKO Thompson also signed a land lease agreement with Amata City Halong in March to build a factory for manufacturing bearings and linear motion equipment in the park. With an investment of $57 million, the project is slated to begin construction in mid-2025 and be put into operation in January of the following year.
Fertile ground for Japan’s wholesalers
Japanese wholesale companies are betting on the Vietnamese market by striking up deals with local companies in food and technology.
IKO Thompson to build a $57 million factory in Quang Ninh
IKO Thompson Vietnam signed a land lease agreement with Amata City Ha Long on March 11 to build its factory across three hectares of Song Khoai Industrial Park (IP) in the northern province of Quang Ninh
Factory and warehouse project set to draw foreign investors to Bac Ninh
Industrial property developer KCN Vietnam Group JSC (KCN Vietnam) broke ground on a factory and warehouse project in Thuan Thanh III Industrial Park on April 17 in the northern province of Bac Ninh.
By Vy Bui
