On December 14, phase 1 of the automobile tire factory of HaoHua Vietnam Co., Ltd. was inaugurated and put into operation.
Attending the event were former President Nguyen Minh Triet, Deputy Prime Minister Tran Hong Ha, representatives of central ministries and agencies, the Chinese Consulate in Ho Chi Minh City and leaders of Binh Duong and Binh Phuoc provinces.
The automobile tire factory project of HaoHua Vietnam Co., Ltd. was granted an investment certificate by the People's Committee of Binh Phuoc province in September 2023 with a total investment capital of 500 million USD. The factory is built on an area of 43 hectares in Minh Hung - Sikico Industrial Park, with a production capacity of 14.4 million tires per year.
After the first phase of operation, the company continued to invest an additional 280 million USD in the second phase, bringing the total investment capital to 780 million USD. In the second phase, the factory will be expanded by 31 hectares of land, with an expected capacity of 10 million tires per year.
When both phases are completed, the project's total capacity will reach 24.4 million tires per year, generating a minimum revenue of $1.092 billion.
Attending the event, Deputy Prime Minister Tran Hong Ha expressed his joy when the first phase of the automobile tire factory came into operation. According to the Deputy Prime Minister, this is a project of a driving nature, gradually turning Binh Phuoc into a modern industrial province...
Deputy Prime Minister Tran Hong Ha requested Binh Phuoc province and the Minh Hung Industrial Park Management Board to continue to support and create the most favorable conditions for investors to produce and do business. Urgently invest in inter-regional connectivity infrastructure to promote the circulation of goods.
Deputy Prime Minister Tran Hong Ha hopes that investors will fulfill their investment commitment for the second phase of the project with a total capital of 280 million USD. The Government is committed to creating a favorable legal environment, protecting the legitimate rights and interests of enterprises; always accompanying enterprises, overcoming difficulties and challenges for stable and long-term development, in the spirit of "harmonious benefits, shared risks". The success of investors is also the success of Vietnam.
