Sanyang to Invest US$70Mln in Vietnam
Sanyang Industry Co, a Taiwanese motorbike and auto manufacturer, has announced it will inject US$70 million in producing commercial vehicles and parts in Vietnam, in the initial phase of a long term project with the potential for more funds in the future.
The country’s fast-growing economy, following admission to the World Trade Organization, is the reason for the investment plan, the company spokesman said.
Sanyang is scheduled to start construction of plant facilities this year, he added but declined to provide further details of the project.
Currently, Sanyang operate two plants in southern Vietnam making motorbikes and engines.
The facilities roll out 300,000 motorbikes a year, most of them being sold locally.
(Vietnam & World Economy)
Vietnamese
