Honda launches $120-million motorbike factory in Viet Nam

Tuesday, Nov 11, 2014 14:37

Officials cut the ribbon to celebrate the Honda's third factory opening ceremony. — Photo Bich Ngan

HA NOI (Biz Hub) — Honda Vietnam on November 10 inaugurated a motorbike manufacturing factory in the northern Ha Nam Province.

The US$120-million factory, the third of its kind in Viet Nam, is located in the Dong Van 2 Industrial Park and can produce 500,000 motorbikes per year. factory has workshops for assembling engines, complete motorbike casting and processing parts, as well as painting. In the first stage, the factory, with nearly 1,300 workers, will manufacture 1,000 motorbikes per day.

Speaking at the opening ceremony, Deputy Prime Minister Hoang Trung Hai said that the inauguration of Honda's third factory, after 17 years of the company's operations in Viet Nam, is evidence of the influence the Japanese firm's investment has in the country.

Hai added that Japan has 2,410 projects with a total investment capital of US$36.3 billion in Viet Nam, topping the list of 101 countries and territories that have been investing directly in the country.

The bilateral relationship between Viet Nam and Japan has become a strategic partnership and the ties are better than ever before. However, the co-operation has not been utilised to its full potential, as expected by the two governments and peoples.

Hai said that Viet Nam has opened huge opportunities for foreign investors, including those from Japan, in the area of building infrastructure in the public-private partnership model for transport, electricity and water supply. This is particularly true of seafood and agriculture processing industries, environment and energy saving technology and agricultural machines, which have been selected for the country's industrialisation strategy and the Viet Nam – Japan co-operation plan towards 2020 and 2030 as well.

Honda being a successful company and having strong influence over businesses in Japan and in the world, the Deputy PM expects that it will continue to be an important bridge, linking Japanese businesses with Viet Nam, boosting economic ties in line with the potential offered by the two countries. — VNS

Comments (0)