The Republic of Korea (RoK)’s Taekwang Group has started construction of a sport shoes factory in Hung Phu 2B Industrial Zone in Cai Rang District, southern Can Tho City.
The over US$170 million plant covers an area of 62 hectares and includes a workshop, a warehouse, and an office building.
The project is scheduled to be completed in 2017, generating about 35,000 jobs and earning US$455 million in revenue each year.
General Director of the Teakwang Can Tho Co., Ltd Nam Jung Dae said the factory will use machineries and equipment in line with standards required by the US’s Nike Inc. Its products will be distributed in accordance with Nike’s orders and exported to countries worldwide.
According to RoK Consul General in Ho Chi Minh City Park Noh Wan, as the third owned by Taekwang in Can Tho the project will help further expand economic co-operation between the two countries, adding that the Viet Nam-Korea Free Trade Agreement (VKFTA) and other FTAs signed between Viet Nam and its partners are facilitating bilateral economic links, contributing to soon realising the two nations’ US$70-billion trade turnover target by 2020.
Source VGP
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