Taiwanese owned sportswear sub-contractor Pou Yuen Vietnam is seeking a license to develop a factory in Dong Nai to make sport shoes for export, according to the Ministry of Planning and Investment.
Nguyen Anh Tuan, deputy director of the ministry’s Foreign Investment Agency, said the ministry was now assessing Pou Yuen’s project, which will be its second in HCM City’s neighbouring province and its third in Vietnam.
Dong Nai authorities have already agreed to let Pou Yuen rent 200 hectares in the Bau Xeo Industrial Park in Dong
Nai, according to the Dong Nai Industrial Zones Authority(DIZA).
In addition to building the sport shoe factory there, Pou Yuen also wants to construct two more factories to make clothes and electronic parts, DIZA said.
The company plans to invest US$190 million in the construction’s first phase. Two more intensive-capital phases will follow, the ministry and DIZA said.
They said Pou Yuen’s existing factory in Dong Nai, which produces sport shoes for Adidas, Reebok and Puma, has performed well.
Pou Yuen is also investing US$288 million into a factory in HCM City’s Binh Tan District that is making sportswear and materials, employing 50,000 people.
Separately, the ministry is considering granting a license to a US$300-million project to develop a new urban complex in Hanoi.
In general, Vietnam has attracted US$3.5 billion of new investment and expansion projects from January to mid–November, exceeding the year’s target of US$3.3 billion, according to the ministry.
The ministry forecasts new foreign capital in Vietnam will reach US$4 billion by the end of the year and increase sharply by 2005.