HAI PHONG — Bridgestone Tyre Manufacturing Viet
Nam Limited Liability Co (BTMV) yesterday started work on a car tyre
plant in the Dinh Vu Industrial Zone in northern Hai Phong City.
The investment of US$575 million by Bridgestone
Corporation, Japan, is the largest Foreign Direct Investment (FDI)
project in the manufacturing industry so far this year, as well as the
biggest FDI project in Hai Phong City.
The factory, being built on more than 102ha, will
begin operations in 2014. When work on the first half is completed two
years later, production is expected to hit 24,700 tyres a day and have
The plant, Bridgestone's 50th plant around the
world, will produce radial tyres. It will serve as an export base for
the EU, North America and Japan.
Chief Operating Officer for Bridgestone, Kazuhisa
Nishigai, said the company made a comprehensive evaluation of
infrastructure, location, workforce, costs and growth prospects before
choosing Viet Nam.
At the ground breaking ceremony, Deputy Prime
Minister Hoang Trung Hai praised Hai Phong City's efforts in attracting
more than $962 million in FDI in the first half of this year, making it
the second most attractive city to foreign investors nationwide.
He said the project was meaningful to both Hai
Phong's economic development and the growth of Viet Nam's support
industry. He encouraged investors to apply the latest eco-friendly
technology to the project.
BTMV is the fifth Japanese investor in the Dinh Vu IZ. — VNS