Taiwan’s Far Eastern group to expand business in Binh Duong hinh anh 1 Polytex Far Eastern Vietnam Co. was licensed in Binh Duong in 2015 (Photo: vneconomictimes.vn)

Binh Duong (VNA) – President of Taiwan’s Polytex Far Eastern Company, Douglas Tong Hsu, made a visit to the southern province of Binh Duong on October 13 to enquire about the province’s investment attraction policy for business expansion

The company’s factory in Binh Duong, specialised in textile and chemical fiber production, is the third largest in the world, after the other two in China and Taiwan. 

The company plans to make smart products in garment and electronic spare parts. 

Speaking at the working session, Tran Thanh Liem, Chairman of the provincial People’s Committee said Binh Duong will offer favourable conditions for the company to expand business. 

The province aims to attract investment in environmentally-friendly sectors that create products with high added value and require fewer labourers. It also focuses on urban development to become first-grade city by 2020, he added. 

Binh Duong is in top five localities attracting foreign investment worth over 25 billion USD in Vietnam. China’s Taiwan is one of the leading investors of Binh Duong with 730 projects worth 5.2 billion USD.-VNA