Covering 40ha in Phu My 3 Industrial Zone, the plant will provide 8,000 interior and exterior wooden furniture items and decorations for export in a day. — Photo bloomberg.com

BA RIA – VUNG TAU (Biz Hub) — The Nitori Ba Ria-Vung Tau Company, a subsidiary of Japan's Nitori Holdings, was licenced to develop a US$150 million plant manufacturing wooden furniture in the southern Ba Ria-Vung Tau Province.

Covering 40ha in Phu My 3 Industrial Zone, the plant will provide 8,000 interior and exterior wooden furniture items and decorations for export in a day. With construction starting in 2016, it will become operational a year later.

During the ceremony last week, chairman of the provincial People's Committee Nguyen Van Trinh described Nitori Holdings' investment in Ba Ria-Vung Tau as a demonstration of its trust in local potential and business climate.

Trinh vowed that local authorities would create the best possible conditions for the firm to carry out its project.

The Nitori Holdings' project has brought the number of Japanese-invested in the province total to 25, worth a combined $2.25 billion. — VNS