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24/01/2019 - 17:59

Giving Decision on investment policy for the first and largest automobile manufacturing and assembling project in Hue

On the afternoon of January 23, at Thai Hoa Palace (the Citadel), Mr. Phan Ngoc Tho, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee gave the Decision on investment policy for the project ‘Kim Long Motors Hue manufacturing and assembling complex into the Chan May - Lang Co Economic Zone’ to Kim Long Motors Hue Joint Stock Company.

Chairman of the Provincial People's Committee Phan Ngoc Tho (right) gave the Decision on investment policy for the project to the investor

The project of Kim Long Motors Hue manufacturing and assembling complex into Chan May - Lang Co Economic Zone is invested and built on an area of ​​about 160 hectares, with an investment capital of about VND 3,330 billion.

Its objectives are to assemble passenger vehicles meeting Euro 5 emission standards or higher, with a capacity of 16,000 vehicles per year, and proceed to produce commercial vehicles, such as cars, trucks, and special-use vehicles.

The investment in the construction of the project is in line with the strategy and planning for the development of Vietnamese automobile industry, which has important implications for the province's socio-economic development, contributing to restructure the economy, increase local budget revenue, and create jobs for about 3,000 workers.

The sponsor and Chairman of Huong Tra Town People's Committee (right) agree on the commitment of sponsoring and implementing the project of upgrading the road to King Gia Long's Mausoleum

Speaking at the ceremony, on behalf of the provincial leaders, Mr. Phan Ngoc Tho highly appreciated the determination of the investor, strategic partners, and the support of relevant ministries and branches in the process of researching and implementing the project.

On this occasion, the partners consisting of Phuong Trang Group and Kim Long Nam Joint Stock Company also supported Thua Thien Hue with a budget of about VND 20 billion, to upgrade and expand the road to King Gia Long's Mausoleum.

Story and photos: Dong Van

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