Taiwanese bicycle manufacturer to invest $120 million in expansion in Binh Duong
Giant will invest US$120 million to expand production in the southern province of Bình Duong, Bonnie Tu, chairwoman of the Taiwanese bicycle manufacturer said while working with the local authority on Monday.
Giant will invest US$120 million to expand production in the southern province of Bình Dương, Bonnie Tu, chairwoman of the Taiwanese bicycle manufacturer said while working with the local authority on Monday.
Accordingly, Giant will build another plant in Việt Nam – Singapore Industrial Part 3. The existing plant was developed in Việt Nam – Singapore Industrial Park 2 in 2021 with a total investment of $60 million in the first phase which aims to produce one million bicycles per year.
The expansion aims to capitalise on the rising global demand for bicycles and electric bicycles.
Dũng said that the local authorities will provide support to Giant in handling legal procedures so that the investment can be realised early.
He pledged that Bình Dương will create the most favourable conditions for enterprises to do business efficiently.
Giant’s bicycles are exported mainly to the US and EU. The company also eyes the potential Vietnamese market with a population of around 100 million.
Giant also enjoys tax incentives for made-in-Việt Nam bicycles when exporting to ASEAN markets.
The company currently owns more than 15 plants in Holland, Hungary, China and Việt Nam. — VNS
« Go Back
Our Events
-
Jan 28, 2019
[FiinPro Data] 2018 Earnings Update: 82% of businesses reported profits with a 16% growth
-
Dec 07, 2018
-
Oct 22, 2018
-
Oct 09, 2018
-
Apr 28, 2020
FiinGroup - Liberation Day and International Workers' Day Closing Announcement 2020
-
Oct 22, 2018
Vietnam Real Estate - Where is the market heading to?
The domestic real estate market has had a period of strong growth in the past five years, will this bull market continue and support real estate stocks to lead the market?