Vietnam Precision Industry Co., Ltd No. 1 (VPIC 1) recently hosted a groundbreaking ceremony to commence the construction of Factory 6 in Ba Thien 2 Industrial Park.
Speaking at the ceremony, Chairman of Vinh Phuc Provincial People's Committee Le Duy Thanh praised the company’s production expansion in Ba Thien 2 Industrial Park and started construction of Factory 6. This demonstrated Vinh Phuc's efforts to improve business investment environment and focus on business-centered investment attraction.
Mr. Wu Tsong Wuu, General Director of VPIC 1, said, “With the valuable support and help of Vinh Phuc province plus the company’s determination to overcome difficulties, VPIC 1 has to date had five production factories which cost US$100 million of investment capital and employ more than 4,000 workers, who are paid an average monthly salary of nearly VND12 million each. To meet the market demand, the company decided to invest in Factory 6, covering 15.5 ha, in Ba Thien 2 Industrial Park. The construction is divided into two phases. The first phase will cost US$40 million to build facilities on 7.7ha of land, including 5 ha for production facilities. After being completed in January 2021, it will employ over 2,000 workers and make products for export to the United States and Europe.
VPIC 1, with the initial investment capital of US$5 million, was established nearly 20 years ago in Khai Quang Industrial Park. The 100% Taiwanese-owned company manufactures components and spare parts for automobiles, motorcycles, sleds and medical equipment for domestic and export markets.
By Thanh Loan, Vietnam Business Forum
Vietnamese
