Construction of the Bridgestone Vietnam tyre plant started in the Dinh Vu Industrial Zone in northern Hai Phong port city on July 2.

The 575 million USD project, the biggest foreign-invested project so far in Hai Phong city, is being built on around 102 ha and will be completed in the first half of 2016.

The plant is scheduled to begin operation in March 2014 and its capacity is expected to reach 24,700 tyres per day.

CEO and representative of the Bridgestone Administrative Council Nishigai said the Bridgestone Group currently produces new tyres at 47 plants in 20 countries. The group want to make contributions to the socio-economic development in Vietnam in general and Hai Phong in particular.

At the event, Deputy Prime Minister Hoang Trung Hai highlighted the efforts made by Hai Phong city’s authorities and people to attract foreign investment. Hai Phong city ranked second in the country for attracting FDI with more than 962 million USD in the first half of the year.

However, Deputy PM Hai asked the investor to apply the latest technology to ensure the efficiency of the project and Hai Phong city to coordinate with the investor to ensure the pace of the project and the environment and safety at the construction site.

The Vietnamese Government always ensures the most favourable policy and mechanism for Japanese investors in Vietnam, supporting the two countries’ cooperation and strategic development, said the deputy PM.-VNA