On December 13, the People's Committee of Binh Phuoc province announced that the tire factory project invested by HaoHua Vietnam Co., Ltd. is preparing to inaugurate phase 1 and start production.
This tire factory project is being implemented at Minh Hung Sikico Industrial Park, Dong No Commune, Hon Quan District, Binh Phuoc Province on a total leased land area of 43 hectares.
The project was granted an investment certificate by the People's Committee of Binh Phuoc province in mid-September 2023. After completing investment procedures, the project will start construction, build factories, and install machinery and equipment for the production line system from the beginning of 2024.
Binh Phuoc Provincial People's Committee said that the project has now been completed, and on December 14, it will hold the inauguration ceremony for phase 1 and officially come into operation.
A representative of HaoHua Vietnam Co., Ltd. said that before choosing Binh Phuoc as an investment destination, the company had carefully researched countries in the Southeast Asian region. After arriving in Vietnam, the company realized that Binh Phuoc is a province with abundant rubber latex resources, which is a favorable condition for the tire manufacturing company to develop.
Besides, Binh Phuoc is a place with advantages in labor resources and technical infrastructure development.
During the process of building the factory, the company received very favorable support from Minh Hung Sikico Industrial Park. The leaders of Binh Phuoc province also fully supported the enterprise to implement the project. After more than 11 months of building the factory, it has been proven that the company chose Binh Phuoc as the right place to invest.
According to the People's Committee of Binh Phuoc province, this is the foreign investment project with the largest registered investment capital in Binh Phuoc. The project is of great significance as Binh Phuoc province is a very large raw material area for rubber latex with about 240,000 hectares of rubber plantation land. In addition, the project will also create jobs for hundreds of workers in Binh Phuoc.
