HAI PHONG (Biz Hub) — Hong Kong-invested Chilisin Holding Limited kicked off the construction of its US$22.6 million plant manufacturing inductance coil molds and transition winding inductance coil in Viet Nam-Singapore Industrial Park (VSIP) Hai Phong on Friday, baodautu.vn reports.

The first phase of the factory is slated for completion in July, 2016.

Speaking at the ground breaking ceremony, a representative from Chilisin Holding Limited said after surveying several localities, his company decided to invest in the city thanks to its favourable geographic location, adequate transport system and quality personnel resources.

Meanwhile, deputy head of Hai Phong Industrial Zones Authority Mai Xuan Hoa said local authorities aimed to better facilitate investors with a focus on speeding administrative reforms and improving the city's environment. — VNS