On June 24, 2024, representative of the City People's Committee, Chairman Nguyen Van Tung, chaired a meeting with leaders of departments, branches, leaders [...]
On June 24, 2024, representative of the City People's Committee, Chairman Nguyen Van Tung chaired with leaders of departments, branches, and leaders of Sao Do Group Joint Stock Company to work with investor TrakMotive Global Industries on project implementation in Nam Dinh Vu Industrial Park.
Chairman of the City People's Committee, representatives of leaders of the Department of Foreign Affairs, Department of Finance, Economic Zone Management Board, Department of Construction, and Red Star Group worked with investor Trakmotive Global Industries.
TrakMotive Global Industries, founded in 2006 in China, is a world-renowned company in the manufacturing and distribution of automotive parts, especially powertrain parts such as drive axles and wheel axles. TrakMotive serves both the OEM (Original Equipment Manufacturer) market and the aftermarket market. TrakMotive products are manufactured to high quality standards, meeting the strict technical requirements of the automotive industry. TrakMotive has an extensive global distribution network, ensuring the ability to deliver products to customers around the world. The company invests heavily in research and development to continuously improve products,meet the increasing requirements of the market and new technology in the automotive industry.
Sharing at the meeting, Chairman of the City People's Committee Nguyen Van Tung provided investors with some information about the city's economic and political situation and related to investment projects of Chinese investors. Accumulated as of June 20, 2024, there are 181 investment projects from mainland China in the city with a total investment capital of nearly 1.3 billion USD. China ranks 2nd in number of projects and 6th in total investment capital in Hai Phong.
In addition, at the meeting, Chinese investors were provided with general information about the investment environment, industrial clusters and investment attraction orientation of the city... Assessing Hai Phong as an attractive destination for Chinese businesses and investors, with outstanding advantages in seaports, convenient transportation systems and strongly invested infrastructure, representative of investor TrakMotive Global Industries, Mr. Robert Zhu - Global General Director of the company presented the desire to implement an investment project in Nam Dinh Vu Industrial Park, Hai Phong with a total estimated investment capital of 400 million USD and a total land use need of 70 hectares to build an aluminum alloy smelting factory, CV axle factory, chassis factory, factoryBrake disc manufacturing, Research and Development Center. Expected human resource demand is over 6,000 people.
Mr. Robert Zhu - Global General Director of TrakMotive Global Industries informed the Chairman of the City People's Committee about the company's investment project in Nam Dinh Vu Industrial Park, Hai Phong
After investors were informed about the project, the Chairman of the People's Committee commented that the expected investment capital is relatively low (nearly 6 million USD/hectare) compared to the average investment projects in the city (about 11.5 million USD/hectare) and suggested that investors reconsider the total capital and investment area, avoiding wasting the city's land resources. Receiving comments from the Chairman of the City People's Committee, investors will continue to review and consider adjusting investment projects to maximize investment efficiency in Hai Phong.
Chairman of the City People's Committee, representatives of leaders of the Department of Foreign Affairs, Department of Finance, Economic Zone Management Board, Department of Construction, and Red Star Group took souvenir photos with investor Trakmotive Global Industries.
At the same time, at the meeting, investor TrakMotive Global Industries had some questions answered by the Chairman of the City People's Committee and leaders of departments and branches about policies and procedures on investment, land tax, labor, infrastructure... Chairman Nguyen Van Tung affirmed that the success of the investor is the development of the city. The city is ready to accompany investors and create favorable conditions when the project is officially implemented in Hai Phong.
Chairman of the People's Committee and leaders of a number of departments and branches directly answered questions from the business delegation at the meeting.
Chairman of the City People's Committee gives souvenirs to investors
Procedures
