Polytex Far Eastern Vietnam Co. was licensed in Binh Duong in 2015. — Photo songoaivubinhduong.vn

BINH DUONG (Biz Hub) –Taiwan's Polytex Far Eastern Company President Douglas Tong Hsu visited the southern province of Binh Duong on October 13 to enquire about the province's policy to attract investment for business expansion.

The company's factory in Binh Duong, which specialises in textile and chemical fibre production, is the third largest in the world. The two largest factories are in China and Taiwan.

The company plans to make smart products for the garments and electronic spare parts sectors.

Speaking at the working session, Tran Thanh Liem, chairman of the provincial People's Committee, said Binh Duong will offer favourable conditions for the company to expand business.

The province aims to attract investment in environmentally-friendly sectors that create products with high value and require fewer labourers. It is also focusing on urban development to become a first-grade city by 2020, he added.

Binh Duong is among the top five localities in Viet Nam, attracting foreign investment worth over US$25 billion. China's Taiwan is one of the leading investors in Binh Duong with 730 projects worth $5.2 billion. — VNS