Korean Firm Kicks off US$15-Mln Bag Plant in Southern Vietnam
Simone Vietnam Ltd. Co., under South Korea&rsquos Simone Co., has recently broke ground on a high-grade suitcase and bag plant in southern Long An province, worth US$15 million.
The factory, to be located at Long Hau Industrial Park (IP), has a designed capacity of 3,440,000 products a year, mainly for export to the U.S. and several countries in Asia and Europe.
The project is scheduled for operation after eight-month construction and expected to generate around 4,000 local laborers.
By -2007, Long Hau IP attracted 36 projects, including seven foreign-invested projects.
Long An, which is home to 17 IPs, has so far lured foreign-invested projects valued at over US$2.1 billion and concentrating on animal feed processing, wood processing and civil construction. Of the total, 102 are operational while another 114 under construction.
The province is an idea destination for investors due to its advantageous location close to Ho Chi Minh City, a long border with Cambodia, as well as the province&rsquos significant economic achievements in the past few years. (Investment)
Vietnamese
