Center Power Tech Vietnam inaugurated the third phase of its factory in Dong Nai Province on Monday. — Photo baodongnai

DONG NAI (Biz Hub) — Center Power Tech Vietnam, a subsidiary of China's Vision Group, inaugurated the third phase of its factory in Dong Nai Province's Nhon Trach 2 Industrial Park on Monday.

In his speech at the ceremony, chairman of the provincial People's Committee Dinh Quoc Thai said he hoped the firm will invest more in advanced technologies and equipment to produce hi-quality and environment-friendly products in the future.

Vision Group, which specialises in battery and accumulator manufacturing, has been investing in over 100 countries worldwide. Its subsidiary, Center Power Tech Vietnam, received an investment licence in the province in 2007 and has current investment capital of US$60 million.

The company manufactures 16 million battery and accumulator products every year. It also makes equipment for producing one million other products.

To date, China has pumped $860 million into 56 projects in Dong Nai, ranking fourth in term of projects and sixth in level of capital among 40 countries and territories investing in the southern province.— VNS