Chinese firm invests in $50m factory in Binh Phuoc

Wednesday, Sep 04, 2019 08:23

Representatives of Kuka Home and the People’s Committee of Binh Phuoc Province sign the land lease contract. — Photo Duong Chi Tuong

Chinese furniture manufacturer Kuka Home on Tuesday signed a land lease contract with the People’s Committee of Binh Phuoc Province.

Kuka will rent 12ha of land in Dong Xoai III Industrial Park to build a wooden furniture manufacturing factory.

The project has an investment capital of more than US$50 million. Once operational, it is expected to create jobs for 3,000-4,000 local labourers.

Currently, Kuka Home has a factory in Dong Nai Province. However, the factory is overloaded, so the firm has chosen Binh Phuoc to set up a new project, said the group’s representative.

The factory will specialise in the production of wooden furniture including tables, chairs and wardrobes for export markets. The group currently has 6,000 stores in 120 countries and territories in the world.

Vice chairwoman of the Provincial People’s Committee Huynh Thi Hang appreciated the investment project and pledged to create the best conditions for the project to come into operation soon.

According to departments and branches of Binh Phuoc, after signing and submitting all documents, the group will be granted a business investment certificate within a day. — VNS

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