THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Swiss group builds another factory in VN
VGP - The Switzerland-based ABB Group, which specializes in electrical appliances and automation, began the construction of its second factory in Việt Nam early this week.
November 13, 2008 3:12 PM GMT+7
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The groundbreaking ceremony of the factory |
Invested with US $30 million, the factory will be located on an 87,000 m2 land lot in the Tiên Sơn Industrial Park of Bắc Ninh, a northern province with abundant workforce and investment incentives.
It is expected to start operation by the end of next year, producing electrical equipment for domestic market and exports.
ABB describes the event as a corner-stone for its long-term presence in Việt Nam.
It is also planning to expand its business activities by pouring US $96 million more into Bắc Ninh.
ABB began its operation in Việt Nam in 1993 and is running a factory in Hà Nội with more than 500 workers.
By Ngọc Vân