The groundbreaking ceremony (Source: Internet)
Can Tho (VNA) – Teakwang Group of the Republic of Korea began construction of a plant producing semifinished-sport shoes in the Mekong Delta city of Can Tho on September 29.
Covering an area of 62 ha, the project has a total investment of 170 million USD. It is scheduled to complete in 2017, generating about 35,000 jobs and earning 455 million USD in revenues each year..
As the third project of Teakwang in Can Tho, the plant will be equipped with modern production lines and discharge systems meeting regulations of industrial hygiene and environmental protection.
According to Nam Jung Dae, General Director of the Teakwang Can Tho Co., Ltd, the factory will use machineries and equipment in line with standards required by the US’s Nike Inc. Its products will be distributed in accordance with Nike’s orders and exported to countries worldwide.
RoK Consul General in Ho Chi Minh City Park Noh Wan said the project will help Teakwang take full advantage of skilled labour resources in the Vietnamese locality, thus further expanding economic cooperation between the two countries.
The Vietnam-Korea Free Trade Agreement (VKFTA) and others FTAs signed between Vietnam and its partners are facilitating bilateral economic links, contributing to soon realising the two nations’ 70-billion USD trade turnover target by 2020.
Vice Chairman of the Can Tho People’s Committee Truong Quang Hoai Nam said the municipal authorities always consider the RoK a strategic partner in many cooperation projects, expressing his hope that the project will significantly contribute to the city’s socio-economic development in the coming time.-VNA
