Many foreign
corporations have chosen Vietnam to become their investment destination
to set
up business in Vietnam and
the most recent project coming from a Korean investor. This is the project to
produce tire and automobile airbags of Kolon Industries Corporation (Korea).
This “super plant” will be located at Bau Bang Industrial Zone of Binh Duong
province.
Mr Tran Thanh Liem –
Chairman of Binh Duong Province has just signed a memorandum of understanding
with leader of Kolon Industries Group (Korea) concerning the implementation of
the plant to produce tire and automobile airbag with investment capital up to 1
billion USD. On this occasion, Becamex IDC Corporation has also announced that
Kolon Industries leases from them nearly 42 hectares of land in Bau Bang Industrial Zone (Binh Duong province) to put the plant on.
According to Kolon
Industries Corporation, after more than two years of searching and working with
many units and localities in and outside the territory of Vietnam, the
Corporation has selected the Bau Bang Industrial Park as the location to
implement the project to produce tire and automobile air bag in Vietnam. The
expected total investment capital of the project for all three phases is about
1 billion USD, in which the Phase 1 from 2017 to 2018 is 220 million USD, Phase
2 from 2018 to 2026 is 600 million USD and after that is the Phase 3.
Established since 1954,
Kolon is one of Korea’s transnational corporations in multiple industries with
high-tech products: tire, automobile air bag, film to use in electricity
industry, electronics, fashion….
By the end of October
2016, Binh Duong has 2,818 investment projects from 59 countries and
territories with a total capital of 25, 6 billion USD. In particular, Korea is
the country ranks 3rd with 594 projects and a total investment
of nearly 2.4 billion USD.
ANT Consulting is here
to assist you from the outset; providing corporate intelligence, risk advisory, management consulting services that assist market entrance, and
ensure efficient business start-up operation. Our services are as
following:
We strive to save your
cost by guiding you towards economical solutions that comply with local
legislation and procedures. We support you through early logistic solutions and
carry you through as your business
grows. We aim to bridge
the gap between international best practices and local cultures and assist
foreign companies and organizations entering Vietnam market to overcome
commercial and regulatory issues.
We could be reached at email: ant@antconsult.vn or tel: +848
3520 2779 . To learn more about us, please visit www.antconsult.vn
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