VMEP expands investment

26-Nov-2004 Intellasia | 24/Nov/2004 Thoi Bao Kinh Te Vietnam Page 4 | 1:38 PM Print This Post

VMEP company will develop a vehicle manufacturing project and a research and development centre in the southern province of Dong Nai.
Thanks to available components production plants, the vehicle manufacturing project, which will improve the localisation rate to 30–40%, is the second stage of the VMEP project in Dong Nai province. This plant is expected to act as a central plant of Sam Yang Corp in Asian region with total investment of US$15 million, said Chang Kwang Hsiung, senior advisor of VMEP.
In addition, VMEP company will build a SYM R&D centre for motor and car manufacture in Dong Nai province with total capital of about US$24 million. With the development of the vehicle plant, the company will call more businesses for manufacturing accessories as it has ever implemented at Ho Nai 3 IZ in Dong Nai province.
After 12 years of operation, VMEP company has manufactured one million motorbikes at the plant in Tam Hiep ward of the Bien Hoa city. After three times of expansion, the company has lifted its investment capital from US$55 million in 1992 to US$136 million. The company has attracted more 48 investors in the business of engineering and spare part manufacture to the Ho Nai 3 IZ and provide jobs to 7,000 workers.
Through 32 subordinate businesses in Vietnam, the VMEP company has created jobs for 8,000 Vietnamese workers.

 


Category: Business

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