US$46-Mln Precision Engineering Factory Opens in Southern Vietnam
Japanese Nidec Corporation has recently started operating a precision engineering factory worth US$46 million in the southern economic hub of Ho Chi Minh city, state media reported Monday.
The facility named Nagamori is located in the city’s high tech zone and is the first factory to start production in the researching and experimenting zone, the state-run Saigon Liberation newspaper reported.
Nidec Servo Vietnam factory with total investment of US$51 million is expected to start operations in October, 2008, the local Laborer Online newspaper said.
In 2007, two Nidec factories in the zone exported US$46 million products, accounting for 80 per cent of the export value of the zone. It provided permanent jobs for 3,500 local workers. (
http://www.sggp.org.vn))
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