Pou Yuen to expand production in Vietnam
5 January 2005
The Taiwanese-owned sportswear company Pou YuenVietnam plan to build a factory in Dong Nai Province to make sports shoes for export. The Ministry of Planning and Investment is assessing Pou Yuen's project, which will be its second in Dong Nai and third in Vietnam. According to Dong Nai Industrial Zone Authority (DIZA), the company plan to rent land in Bau Xeo Industrial Park. They also want to build two more factories to make electronic components and clothing. Pou Yuen will invest US$190 million in the first phase of construction and will add more capital in two following phases. Their existing factory in Dong Nai produces sport shoes for Adidas, Reebok and Puma. The company are investing US$288 million in a factory in HCM City's Binh Tan District to make sportswear and materials. Besides Pou Yuen's project, the ministry is considering another capital-intensive project by a consortium of six Korean investors. The project, estimated to cost US$310 million, involves construction of a new urban centre west of Hanoi. In the first 11 months of this year, Vietnam attracted US$3.5 billion in foreign direct investment, surpassing the year's target of US$3.3 billion. The figure for the whole year is expected to increase to US$4 billion. Source: SaigonTimes Weekly
