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Loteco: 10 years to earn prestige of an industrial and processing zone

The Long Binh Industrial Zone Development Company (Loteco), located in Long Binh Ward, Bien Hoa City, is a joint venture between Japan’s Sojitz trading and investment firm, a merger of Nissho Iwai and Nichimen Group, and Vietnamese partner, Thai Son Company (Thasimex) under the Ministry of Defense, specializing in the field of infrastructure investment and development.

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workers of a factory in Loteco IZ

Loteco has a registered capital of 41 million USD, of which, the legal capital is 12.5 million USD. Vietnamese partner account for 40% of its stakes and its Japanese counterpart makes up of 60% of its stake.

After being founded, Loteco had faced with many difficulties caused Asian Economic Crisis which halted foreign investments into it. It’s until late 1990s and early 21st century when foreign investors pour their investment in Loteco IZ. After 10 years of foundation and development, it has turned out to be a modern industrial and processing zone and a well-known place for domestic and foreign investors. Over the past ten years, it has invested about 23.5 million USD to build internal road systems, waste water treatment systems and drainage systems. At present, the company is building an advanced wastewater treatment plant with the capacity to process 2,500 cubic meter of wastewater per day. At the same time, it is ready for new investment surges by constructing second wastewater treatment plant using UNITANK technology transferred by Seghers Keppel Company – Belgium. At first, the capacity of the second plant is 4,000 cubic meter per day. Then it will reach 8,000 cubic meters per day.

In the first phase of construction, Loteco has built a power plant with a capacity of 3.2 megawatts. Currently, it coordinates with Dong Nai Electricity Company to install a new power line so as to increase its power supply capacity by 15MW and to set up a 40MW transformer station. It is preparing legal documents to get approval from provincial People’s Committee to enlarge its industrial zone and works out plans to continue its development plans.

Dong Nai’s Loteco IZ is becoming increasingly attractive destination for foreign investors. In the first quarter of 2006, Loteco lured 3 new projects capitalized at roughly US$ 5 million, bringing the total number of licensed projects in the zone to 50 with a total registered capital exceeding US$ 240 million while generating new jobs for more than 15,000 laborers. Presently, a total of 100 hectare of Loteco’s industrial space (the first phase) is fully leased. High-tech projects with less pollution on the environment are encouraged to invest in Loteco IZ. Investment projects in such diverse fields as mechanical and electrical engineering, electronics, textile and garment are owned by foreign investors from Japan, Republic of Korea, US, Malaysia, Hong Kong and Taiwan. Large corporations like Yupoong, Muto, Suzuki, Nec Tokin and Harada etc. are operating effectively in the zone.

Aiming to create favorable conditions for investors, a representative office of DIZA and Long Binh export processing zone customs office were located in Loteco Industrial Zone. With the desire of becoming a modern industrial park, Loteco has made efforts to improve management quality. Accordingly, Loteco has successfully applied the quality management system according to ISO 9001:2000 and the environment management system according to ISO 14001. 

(Translated by THKC)

Author: admin

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