KP Aero Industries Invested 20 million USD in the Aircraft Components Factory in Da Nang
The KP Vina Aviation Components Factory project with a total investment of 20 million USD by Korean investor KP Aero Indutries has just been granted an Investment Registration Certificate. The goal of the project is to produce, process and assemble aircraft parts, including auxiliary power unit door (APU Door), MIC tip, wingbox, winglet, flap support fairing of Boeing 787 and Boeing 737 Max aircrafts. This is the second project in the aerospace field invested in Da Nang Hi-Tech Park (Da Nang Hi-Tech Park) after the project of UAC Vietnam Company Limited.
According to the leadership of the Management Board of Da Nang Hi-Tech Park and Industrial Parks, KP Aero Industries is an investor with many years of operating experience and a partner of leading companies in the aviation field such as Boeing, Airbus, Korean Air. The implementation of the KP Vina Aviation Components Factory project in Da Nang Hi-Tech Park is expected to not only contribute positively to the socio-economic development of Da Nang city, but also creates the first foundation for the formation of an aviation and aerospace technology complex in Da Nang High-Tech Park and industrial parks. Thereby, attracting companies and aviation groups around the world to be interested in researching, surveying the investment environment and implementing projects in Da Nang High-Tech Park and industrial parks, promoting technology transfer activities in the aviation sector, thereby enhancing the position of the city in particular and Vietnam in general in the global aviation industry.
A representative of KP Aero Industries said that during the initial period of researching investment locations, investors were always concerned that doing business in Da Nang would face many difficulties due to lack of infrastructure as well as delays in administrative procedures, which will make it difficult for them to advance further in Vietnamese market.
However, during the investment period in Da Nang High-Tech Park and industrial parks, investors received very enthusiastic help and support in completing procedures and documents; quickly and flexibly in appraising, evaluating and issuing Investment Registration Certificates for projects from the Management Board and relevant departments, agencies and branches. The investor also commits that immediately after signing the land lease contract, they will urgently implement construction procedures in accordance with the law and expect to start construction in early February 2024. The project will be completed and begin official operations at the end of 2024.
In 2023, the Management Board of Da Nang Hi-Tech Park and Industrial Parks has granted 19 new projects with a total investment capital of 258.6 million USD (equivalent to 6,301 billion VND). Accumulated to date, the High-Tech Park and industrial parks have attracted 526 projects with a total investment capital of 3,413 million USD (equivalent to 83,152.6 billion VND).
