Bac Ninh province and Nihon Toyo Group (Japan) sign Memorandum of Understanding

Provincial leaders and Japanese delegates witness the signing ceremony.

Delegates at the program were Mr. Nguyen Anh Tuan, Member of the Party Central Committee, Secretary of the Provincial Party Committee and Head of the Provincial Delegation of National Assembly Deputies; Ms. Nguyen Huong Giang, Deputy Secretary of the Provincial Party Committee, Chairwoman of the Provincial People's Committee; Mr. Vuong Quoc Tuan, Alternate Member of the Party Central Committee, Permanent Vice Chairman of the Provincial People's Committee; members of the Provincial Party Standing Committee; leaders of the the Provincial People's Council, People's Committee, and Delegation of National Assembly Deputies; representative from the Ministry of Foreign Affairs, departments, branches, sectors, localities and a number of domestic enterprises in operation in the province.

The Japanese delegate were Mr. Watanabe Shige, Deputy Ambassador - Minister of the Japanese Embassy in Vietnam; Mr. Kubota Masaharu, former Deputy Minister of Transport of Japan; Mr. Nakajima Takeo, Chief Representative of the Japan External Trade Organization (JETRO); Japanese agencies and organizations in Vietnam.

Nihon Toyo Group has extensive experience in the fields of environment, real estate investment, infrastructure, and cosmetics manufacturing. For a total investment of around USD 220 million, the Group is expected to invest in the manufacturing of Japanese technology cosmetics, industrial real estate, logistics, and infrastructure, and the pilot production of the next generation hydrolysis equipment production line in Bac Ninh province.

Delegates attend the signing ceremony.

At the program, Chairwoman of the Provincial People's Committee Nguyen Huong Giang and Mr. Katsuhiko Koshio, Chairman of Nihon Toyo Group signed a Memorandum of Understanding (MoU).

According to the signing content, Nihon Toyo Group will survey investment in a chain of cosmetic plants that fulfill Japanese technological requirements and CGMP standards (good cosmetic manufacturing practices) in Bac Ninh province; survey, research, and invest in medium- and large-scale industrial and logistics real estate projects. During the project phases, Bac Ninh province will introduce suitable locations for production, installation, and testing. On the other hand, the province also cooperate and support Nihon Toyo throughout all stages of the project to get the best results as well as introduce and connect local businesses with the necessary capacity to participate in project implementation.

The cooperation will promote the trial production of a high-humidity, high-temperature hydrolysis machine production line to produce high-quality solid fuel from waste in Bac Ninh, contributing appropriately to environmental protection in the province with the province's socio-economic development orientation and priority areas to attract investment, in accordance with the national and Bac Ninh province's strategies on green growth, and contributing to the implementation of the government's commitment at COP26 to bring Vietnam's net zero emissions by 2050.