31 C
Ho Chi Minh City
Friday, October 23, 2020

Vinh Long breaks ground on VND1.2 trillion auto parts manufacturing plant

Must read

CAAV proposes withdrawing BlueSky’s aviation business license

HCMC – The Civil Aviation Authority of Vietnam (CAAV) has written to the Ministry of Transport proposing it cancel the general aviation business license...

HCMC, Hanoi asked to make wearing face masks in public mandatory

HCMC – The prime minister has instructed localities to continue adopting Covid-19 infection prevention and control measures and ordered Hanoi and HCMC authorities to...

Vietnam to receive ultra-large container vessel

HCMC – The 214,121-DWT Margrethe Maersk, one of the world’s largest container ships, is set to arrive at the Cai Mep International Terminal in...

Hundred firefighters tackle fire at Binh Duong-based company

HCMC – Around 100 firefighters and a dozen fire trucks were mobilized to extinguish a blaze that broke out at a waste facility of...
HCMC – The construction of an auto parts manufacturing plant in the Mekong Delta province of Vinh Long, which requires nearly VND1.2 trillion in investment, has begun.

The provincial government in coordination with Fukurawa Automotive Vinh Long Vietnam Company (FAVV) held a groundbreaking ceremony for the project on October 12, reported VietnamPlus news site.

The facility spans 100,000 square meters in the Binh Minh Industrial Park in My Hoa Commune, Binh Minh Town. It will manufacture and export 100% car spare parts for a score of global auto brands and will not serve the domestic market.

The project will be implemented in three phases and is expected to be completed in 2023. It is also set to recruit and train 6,000 local employees and those living in the neighboring localities.

Once completed, it will benefit the province by contributing to the local budget, attracting more foreign investors and promoting the socio-economic growth of the province, especially the delta.

Furukawa Automotive Systems Company, which owns FAVV, was founded in 1950 and is one of the top manufacturers of wire harnesses for cars in Japan.

The Japanese firm tapped the local market in 1996 by developing the Furukawa Automotive Parts Vietnam Factory in HCMC’s Tan Thuan Export Processing Zone. In 2008, it built the Furukawa Automotive Systems Factory in Ben Tre Province.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest articles

CAAV proposes withdrawing BlueSky’s aviation business license

HCMC – The Civil Aviation Authority of Vietnam (CAAV) has written to the Ministry of Transport proposing it cancel the general aviation business license...

HCMC, Hanoi asked to make wearing face masks in public mandatory

HCMC – The prime minister has instructed localities to continue adopting Covid-19 infection prevention and control measures and ordered Hanoi and HCMC authorities to...

Vietnam to receive ultra-large container vessel

HCMC – The 214,121-DWT Margrethe Maersk, one of the world’s largest container ships, is set to arrive at the Cai Mep International Terminal in...

Hundred firefighters tackle fire at Binh Duong-based company

HCMC – Around 100 firefighters and a dozen fire trucks were mobilized to extinguish a blaze that broke out at a waste facility of...

Ministry confirms three more imported Covid-19 cases

HCMC – The Ministry of Health has confirmed three new Covid-19 patients who were quarantined after returning to Vietnam from Angola on October 20,...