Automobile parts factory opens in Hoa Binh
Nissin Manufacturing Vietnam Co. Ltd. on March 14 opened a factory producing automobile and motorcycle spare parts in the northwestern mountainous province of Hoa Binh.
The factory, located in Luong Son Industrial Park, is the first opened overseas by the Japanese firm in its 60-year history. It is considered the company’s first step in constructing an auto component centre in the Southeast Asia.
Built at a total cost of US$75 million, the factory is designed to turn out 23 million products a year for the domestic market and export.
It is expected to gain an annual revenue of US$28.2 million, contribute over US$1 million to the State budget every year and create jobs for 242 locals.