Heavy industries giant expects to benefit in ASEAN from creation of AEC.
The IHI Corporation, Japan’s leading heavy industries corporation, has begun construction of the IHI Infrastructure Asia (IIA) factory at the Dinh Vu Industrial Park in the northern port city of Hai Phong.
The $34 million production facility is expected to meet regional infrastructure development demand and the needs of Vietnam’s modernization process.
At a ceremony held on March 10, IHI leaders said the strategic goal of the factory is to seize the opportunities in capital flow and high-quality workforce within ASEAN member nations presented after the ASEAN Economic Community (AEC) is established late this year.
Representative Director and Executive Vice President at IHI Corporation, Mr. Sadao Degawa, said the group focuses its investment in the fields of energy resources, environment, social infrastructure, and offshore equipment in Vietnam.
IHI has strengths in multi-functional industrial machinery and aerospace and defense equipment, he added, and is looking for projects in these fields in Southeast Asia, particularly in Vietnam. The IIA factory will help IHI meet demand for high quality steel structures for infrastructure projects in the country.