The building, leased by a Japanese manufacturer, has an area of 17,914 square metres, including 12,490sq.m of factory space. — Photo VGP

HCM CITY (Biz Hub) — An eight-storey factory built at a cost of VND100 billion (US$4.5 million) at the Tan Thuan Export Processing Zone in HCM City was inaugurated on Tuesday.

The building, leased by a Japanese manufacturer, has an area of 17,914 square metres, including 12,490sq.m of factory space.

Furukawa Automotive Parts Vietnam (FAPV), which produces auto parts, is the lessee.

Tat Thanh Cang, deputy chairman of the HCM City People's Committee, said following the city's decision to build multi-storey factory buildings in industrial parks and export processing zones in 2015-18, Tan Thuan had become the first to implement it. Work on a second building was expected to start early next year and finish in 10 months. The two is set to be built on a 20,000sq.m plot of land, Tran Thanh Hong, deputy general manager of Tan Thuan Co, Ltd, said.

Plans are to have five multi-storeyed factories in Tan Thuan and Linh Trung export processing zones, Hiep Phuoc and Dong Nam industrial parks, and the Saigon High-tech Park.

One of them, at Hiep Phuoc Industrial Park, is already under construction and expected to be finished in mid-2016. — VNS