Chairman Phan Ngoc Tho (right) granting the certificate to investors
Billion Max Vietnam Export Processing Factory is invested by the Hong Kong-based Bilion Max International Develomennt Limited, which is a joint venture of Wilson Group in cooperation with Mattel Group (both are the United States businesses), specializing in distributing children's toys globally.
The factory is built on an area of more than 10 hectares in the Industrial and Non-tariff Zone, belonging to Chan May-Lang Co Economic Zone. With the total investment of USD 15 million (VND 348 billion), the factory construction will be started soon and put into operation in the first quarter of 2020.
Chairman Phan Ngoc Tho witnessing the signing of a joint-venture memorandum between the two groups
The factory aims to produce plastic toys, infant products, monitoring or alarm products, audio equipment and outdoor landscape lights for export. It has a design capacity of 20 million products/year; in which the products of the first phase is about 7 million /year; those of the second phase, about 13 million /year.
Speaking at the certificate handover ceremony, Chairman Phan Ngoc Tho welcomed foreign enterprises that chose Chan May-Lang Co Economic Zone to invest in building a factory. At the same time, he affirmed that the province would create an open investment environment and the best conditions for investors to soon deploy and complete the factory in accordance with the roadmap, to support the stable and long-term business investment.
By Thai Binh