The representative of Thua Thien-Hue People’s Committee has handed over the decision providing in-principle approval to Bach Viet Automobile Manufacturing Industry JSC to develop an automobile assembly and manufacturing complex in the province.
The complex will cover an area of 50 hectares in Chan May-Lang Co Economic Zone with the total investment capital of VND2.6 trillion ($113.04 million). The complex will manufacture and assemble cars of up to nine seats with the capacity of 100,000 units per year. All products will meet Euro 5 emission standards. Besides, Bach Viet also plans to manufacture electric cars. The construction of the complex is expected to be kicked off in the third quarter of 2020 and start operation in the fourth quarter of 2024.
Earlier last year, the central province also approved Kim Long Nam JSC to develop an auto manufacturing and assembly complex in the economic zone.
The Kim Long Motors Hue complex spans approximately 160ha, with its first phase costing some VND3.33 trillion ($144.78 million). It is designed to produce 16,000 buses annually, meeting Euro emissions standards. The project is expected to become operational in 24 months.
Bach Viet and Kim Long Motors’s Hue manufacturing and assembly factory in Chan May-Lang Co Economic Zone is creating s premise for the growth of the province’s industrial sector.
With more than 140 operating projects, worth VND95 trillion ($4.13 billion), economic zones and industrial parks in Thua Thien-Hue have become magnets to both domestic and foreign investors.
According to Thua Thien-Hue Industrial and Economic Zones Authority (IEZA), many foreign companies, mainly from the US, South Korea, Japan, and China had visited and explored opportunities in the province.