King Star Technoly and contractor Giza sign cooperation deal to build the plant. (Photo: VNA)

Binh Duong (VNA)
– A ground-breaking ceremony for a plant producing bicycles and automobile and motorcycle spare parts was held at Dai Dang industrial park in the southern province of Binh Duong on April 10.

Invested by King Star Technology Co.,Ltd (Taiwan, China), the plant will cover nearly 80,000 square metres and produce over 1.5 million products, including 300,000 bicycles, a year.

It is expected to become operational in December, 2017 and create jobs for hundreds of local labourers, the company’s executives said.

According to Tran Thanh Liem, Chairman of the provincial People’s Committee, the construction of the plant fits the province’s industrial development orientations.

He hoped that the company’s executives will broaden production as well as introduce other businesses to land further investment in the locality.

Binh Duong province has enjoyed auspicious achievements in investment attraction from the outset of the year, Liem said.

In quarter I, 1.34 billion USD in foreign direct investment was poured into the locality, including 43 newly registered projects valued at 793 million USD and 18 capital-added projects worth 551 million USD. Local industrial production has posted a good growth with the index of industrial production rising by 7.27 percent on-year.

The provincial leader highlighted that his locality will carry out a line-up of measures to support businesses and call for further investment. Accordingly, dialogues will be held to tackle difficulties for local companies.

In addition, administrative reform through the “one-door” model will be promoted to facilitate transactions between individuals or organisations and local agencies.- VNA