Granting Investment Certificate to Ohashi Tekko Vietnam Co., Ltd

Ohashi Tekko is the 118^th foreign direct investment (FDI) project in the province and the 25^th FDI project in Binh Xuyen Industrial Zone. It is also the 18^th Japanese enterprise investing in Vinh Phuc province that brings the total investment capital of Japanese investors in the province to US$ 667.07 million and makes Japan ranked to No.2 with respect to the total investment capital and No.3 with respect to number of investment projects of the total 11 countries and territories investing in the province. The charter capital of Ohashi Tekko is US$ 14,346 million. It is expected that the project will come into operation in February 2014 and attract approximately 50 employees with a stable income (around 150-250 USD per person in a month). The Company’s business lines include: machining, metal coating and processing, metal product manufacturing for kitchen, dining room; residential and industrial furniture manufacturing; home electrical appliance manufacturing; motor vehicle parts and accessories manufacturing; construction equipment and tool manufacturing.

In the ceremony speech, Mr. Phung Quang Hung – Chairman of Vinh Phuc People’s Committee congratulated the investment of Ohashi Tekko in Vinh Phuc and wished Ohashi Tekko will achieve high business and production efficiency. He also emphasized that this is the first FDI project in 2013 granted an investment certificate under the one-stop service division of Vinh Phuc Investment Promotion Agency. Since 2012, Vinh Phuc government has had significantly innovation on investment promotion policies. At the moment, all investors investing in Vinh Phuc province are exempted from registration fee and enjoy a shorter licensing period by only a half of the time-limit prescribed by the State of Vietnam. They may be applied several preferential policies as well, especially on land clearance, infrastructure and labors. The viewpoint of Vinh Phuc government is that all businessmen working at the province are regarded as Vinh Phuc’s citizens and the success of each enterprise is the success of Vinh Phuc province. All local competent authorities at all levels and in all sectors always strive to maintain a close coordination to provide better assistance to the enterprises during the course of their business and production. Finally, the Chairman of Vinh Phuc People’s Committee expressed his hope that Ohashi Tekko will put the project into action as soon as possible, ensure progress and scale of the project and fully comply with laws of Vietnam …

Mr. Masashi Ohashi, the President of Ohashi Iron Works Co., Ltd expressed his pleasure and trust on the success of Ohashi Tekko Vietnam Co., Ltd in the province. He hopes that the local competent authorities will continue giving more regards and facilitation to the Company so that it will be ready to go into production, contributing to the socio-economic development of Vinh Phuc province.