Bridgestone inaugurates first tyre factory in Vietnam
(VOV) - Bridgestone Vietnam Ltd Company under the Bridgestone Asia Pacific (BSCAP) inaugurated the first tyre factory at Dinh Vu Industrial Zone in Haiphong City on October 24.
This is the largest foreign direct investment (FDI) project in Haiphong with capitalisation of US$447.8 million.
Bridgestone Vietnam began manufacturing radial tyres for automobiles as from April 2014 with productivity of 10,000 tyres per day. It expects to raise its productivity to 49,000 tyres per day and attract around 3,800 workers by 2017.
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At the inauguration ceremony, Minister of Industry and Trade Vu Huy Hoang said Bridgestone’s choosing Haiphong as its destination demonstrates that the city is effectively implementing support policies to attract foreign investors, including those from Japan to contribute to the city’s socio-economic development.
Masaaki Tsuya, Bridgestone Group’s CEO said Bridgestone is the world’s leading rubber and tyre producer and its products are available in 150 countries.
Bridgestone Vietnam General Director Teruo Kunitake said the group wants to contribute to the country’s economic development. The company now has more than 1,100 workers, most of them are Vietnamese.