Today: 26/05/2022 21:11:18 (GMT+7)

Vingroup to build second auto plant in Vietnam

Vingroup subsidiary Vinhomes has proposed building an auto and parts manufacturing complex, including port infrastructure, in central Ha Tinh Province.

A Ha Tinh official said Friday authorities had received the proposal Tuesday and would meet with the company to discuss opportunities soon.

Vinhomes, the real estate arm of Vingroup, wants to build a VinFast auto plant along with several others producing auto parts and hi-tech audio-visual equipment.

Vingroup, second auto plant, Vietnam, Vingroup subsidiary, parts manufacturing complex, hi-tech audio-visual equipment

A car is seen inside VinFast's auto plant in northern Hai Phong City.

The complex would be located in Vung Ang Economic Zone, covering 2,000 hectares of which 500 hectares would include ocean waters.

The company would build a port and logistics infrastructure to transport goods to and from the plant. It also wants to build a hotel and tourism area to serve experts, employees and local residents.

The first phase of the complex is set to finish two years after receiving a construction license, with the second phase to commence three to five years after the first phase began operation.

Vingroup currently operates one auto complex in northern Hai Phong Province. Its unit VinFast is reportedly planning to release an initial public offering in the U.S., raising at least $2 billion.

Vung Ang Economic Zone was established in 2006 and is home to many billion-dollar projects, including a steel plant of Taiwanese company Formosa and Vung Ang 1 Thermal Power Plant of PV Power.

High demands push Vietnamese rice's prices up: Business Recorder
Vietnam’s rice export prices hit a more than nine-year high this week as fresh orders trickled in, while rates for the Indian variety held near a one-month peak on healthy demand from buyers in other Asian countries and Africa, according to an article published on Pakistan’s news website Business Recorder.
"Business Cafe" programme sees many proposals on land, infrastructure development
(BGO) - The provincial People's Committee and the provincial Business Association jointly held the "Business Cafe" programme in March at the Dai Hoang Son OPERA Company Limited in Bac Giang city on March 20.
35 pct of businesses lay off workers due to pandemic
Thirty five percent of businesses had to let staff go after being hit by the effects of the Covid-19 pandemic, which disrupted supply chains, a survey has found.
Bac Giang removes bottlenecks to speed up business environment improvement
(BGO) - On February 5, 2021, the Chairman of the provincial People's Committee issued Decision No. 265/QD-UBND approving and announcing the District and Department Competitiveness Index (DDCI) according to the new set of criteria. The assessment results are the basis for departments, agencies and localities to clearly identify strong and weak points for improvements this year.
Vietnam targets 1.5 mln businesses in private sector
Vietnam plans on having 1.3-1.5 million businesses by 2025, a target requiring a strong growth surge over the next five years.

Source: VnExpress

Vingroup, second auto plant, Vietnam, Vingroup subsidiary, parts manufacturing complex, hi-tech audio-visual equipment
New comment has just been added. Click here
Sort:NewBest News