Chinfon plans investment expansion

06-Dec-2004 Intellasia | 03/Dec/2004 Vneconomy | 2:15 PM Print This Post

Shi H. Huang, President of Chinfon Group of Taiwan talked with Vietnam Economic Times’ Dam Hai Van.
Chinfon is considered Taiwan’s biggest investor in Vietnam. How many projects and which fields have your group invested in so far in Vietnam?
For the past 15 years, Chinfon has had 20 projects in Vietnam with the capital of more than US$500 million. So, it can be said that our group is the biggest investor among Taiwanese investors in Vietnam. Yearly, our projects contribute approximately one trillion dong to the state budget of Vietnam.
Chinfon has been investing in manufacture and assembly of motorbike in Vietnam since 1990s.
We have arranged 13 motorbike spare part producers of Taiwan to invest in Vietnam to contribute to the establishment of the industry of motorbike manufacture and assembly here. In addition, Chinfon has invested in the fields of banking, life insurance, fodder and production of Dai Hai gas in many cities and provinces.
Which is the most effective project among those?
Chinfon cement project in Hai Phong for which I am the board chair is the most effective project of our group in Vietnam. It has had the largest capital of US$283 million among foreign investment projects in Hai Phong since 1992. The Ministry of Planning and Investment has permitted us to increase the capital to US$450 million to buy more two production lines so as to raise the annual output capacity of the cement factory to 3-4 million tonnes. Each worker of the factory receives the salary of around dong 2.5 million per moth.
We have an intention to complete and bring into operation a clinker mill named Chinfon in the southern region in late 2005 and start operation of the cement production line No.2 in Hai Phong in late 2007.
President Tran Duc Luong has just conferred you with the Second Labour Decoration and Chinfon group has committed to further investment in Vietnam in the years to come. Which fields is your group going to invest in?
We have pledged to the Vietnamese government our support for the renewal course and economic development of Vietnam as well as further investment in industry, agriculture, food and foodstuff processing.
Being the president of the Taiwan business association in Vietnam, I will continue to appeal and help Taiwanese investor invest in Vietnam, especially in the fields of industry, agriculture, construction, finance and banking. The Association Branch will be the tie between Vietnam and Taiwanese investors.


Category: Business

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