Work starts on spare parts factory in Binh Duong
Monday, 2017-04-10 05:05:03
NDO – A ground-breaking ceremony, for a factory producing bicycles and automobile and motorcycle spare parts, was held at Dai Dang industrial park in Binh Duong province on April 10.
The plant, invested by King Star Technology Co., Ltd (Taiwan, China), will cover nearly 80,000 square metres and produce over 1.5 million products, including 300,000 bicycles, a year. It is expected to become operational in December, 2017, and create jobs for hundreds of local labourers.
According to Tran Thanh Liem, Chairman of the provincial People’s Committee, the construction of the plant fits the province’s industrial development orientations. He is hopeful that the company’s executives will broaden production as well as introduce other businesses to land further investment in the locality.
Binh Duong province has enjoyed auspicious achievements in investment attraction from the outset of the year, Liem said.
In the first quarter, US$1.34 billion in foreign direct investment, was channeled into the locality, including 43 newly registered projects valued at US$793 million and 18 capital-added projects worth US$551 million. Local industrial production has posted a good growth with the index of industrial production rising by 7.27 percent on-year.
The provincial leader highlighted that his locality will carry out a line-up of measures to support businesses and call for further investment. Accordingly, dialogues will be held to tackle difficulties for local companies.
In addition, administrative reforms through the “one-door” model will be promoted to facilitate transactions between individuals or organisations and local agencies.