Japanese Pegasus manufacturing company has opened its new factory at Long Duc industrial park in Long Thanh district, the southern province of Dong Nai .

Pegasus Shimamoto Auto Parts Vietnam, an overseas subsidiary of Pegasus, specialises in manufacturing die casting products, and other parts and components used for automotive, motorbike and industrial purposes such as safety belts.

According to Pegasus, covering an area of 2 hectares, the 20 million USD facility is the second Pegasus’s project in Vietnam so far.

The factory is designed to have a yearly production value of 38 million USD.

Initially, all products will be exported to Thailand and Japan .

Addressing the launching ceremony on February 17, Dinh Quoc Thai, Chairman of the Dong Nai People’s Committee, noted that the Japanese investment flow into the locality has been increased in recent years.

In 2013 alone, Japanese investment accounted for about 30 percent of the total 1.6 billion USD foreign direct investment in the province, he added .-VNA