World's 3rd Largest Rubber Producer to Invest US$3Mln in Vietnam
Malaysia’s Kossan Rubber Industries Bhd. said it will make a breakthrough investment in Vietnam, with a US$2-3 million project late this year, the website of the Vietnam Rubber Group said.
The company said it plans to set up a high quality rubber plant in Vietnam, but did not give any more detailed information about it.
The Star from Malaysia quoted an official of Vietnam’s rubber industry saying that the country’s improving investment environment and cheap labor cost are major reasons pushing Kossan to enter Vietnam.
With the investment, not a huge amount, Kossan expects to boost operation in Vietnam in the near future, facilitating the local automobile industry, he said.
The Malaysian company intended to bring highly skilled professional workers along to Vietnam when launching the plant.
In related news, Kossan is named the world's third largest rubber producer and the biggest rubber manufacturer in Malaysia. Surgical gloves accounted for 3 per cent of the company’s total output last year.
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