Ho Chi Minh City terminates investment project of a Japanese enterprise in High-Tech Park

The Management Board of Ho Chi Minh City High-Tech Park has just announced the termination of the investment project of Tohin Vietnam Industrial Co., Ltd.

On February 21, the Management Board of Ho Chi Minh City High-Tech Park (SHTP) issued Notice No. 36/TB-KCNC on the termination of the investment project "Tohin Viet Nam Industry Corporation" of Tohin Vietnam Industry Company Limited (abbreviated as Tohin Company) - a Japanese-invested enterprise.

The reason for project revocation is because the investor has decided to terminate the project activities according to the provisions of Clause 2, Article 48 of the Investment Law 2020.

Tohin Company's factory in Ho Chi Minh City High-Tech Park - Source: Tohin Viet Nam Industry

The Management Board of Ho Chi Minh City High-Tech Park requested Tohin Company to coordinate with relevant departments, branches and units to complete the investment project liquidation procedures according to current regulations of Vietnamese law.

Before announcing the termination of the project, the SHTP Management Board issued Decision No. 01/QD-KCNC dated January 2, 2024 on revoking the investment registration certificate and Decision No. 324/QD-KCNC dated December 25, 2023 on terminating the investment project of Tohin Company.

Tohin Company's investment project was first granted an investment certificate by Ho Chi Minh City on September 24, 2015, and changed for the third time on December 24, 2020.

According to the investment registration certificate, Tohin Company invested in Ho Chi Minh City High-Tech Park to produce and manufacture environmental treatment equipment such as air blowers, air compressors, vacuum cleaners, etc. In addition, this enterprise researched smart industrial robots. The project has a total investment capital of 15 million USD.

Source