Thanh Cong Group, a dominant player in the automotive space, has just unveiled plans to invest $94 million in Hai Duong, signalling big hope on the northern province's growth potential.
On September 7, Luu Van Ban, Deputy Chairman of Hai Duong People’s Committee, and Le Do, deputy director of Thanh Cong Group, discussed the establishment of an expansive manufacturing and assembly facility, ideally located within the province's Lai Vu Industrial Zone (IZ).
"Investing in Hai Duong's thriving ecosystem will amplify our production capabilities and ensure our commitment to sustainable practices," said Do, emphasising the region's socioeconomic merits and the vast talent pool.
The strategic endeavour seeks to elevate the domestication of the automotive sector, reinforcing both domestic assembly and external export supply chains. Such a move is predicted to enrich Hai Duong's fiscal landscape, boost local GDP, generate employment, and refine industrial competencies.
Promising an array of automotive innovations, the group's offerings are set to span from body mechanical components to state-of-the-art research and development centres, all drawing from collaborative technology partnerships with South Korean and G7 counterparts.
"We're not just looking to produce; we're looking to innovate, collaborating with global tech giants to drive forward in an environmentally responsible manner," said a Thanh Cong spokesperson, underscoring its commitment to green production.
The company has made a bid for a 26 hectare plot within Lai Vu IZ, anticipating an impressive design output of 200,000 vehicles per annum.
Notably, the conglomerate has petitioned for favourable lease terms, including a proposed rate of $20 per square metre and an extended land use tenure.
Ban, reinforcing Hai Duong’s commitment said, "Our collaboration with Thanh Cong Group is testament to Hai Duong’s vision of fostering strong industrial relations and elevating our local workforce to meet global standards."
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