Haohua Group inaugurates $500 million auto tire factory in Binh Phuoc

On December 14, at Minh Hung - Sikico Industrial Park, Binh Phuoc province, Haohua Group (China) inaugurated phase 1 of an automobile tire factory with an investment capital of 500 million USD.

On December 14, at Minh Hung - Sikico Industrial Park, Binh Phuoc province, Haohua Group (China) inaugurated phase 1 of an automobile tire factory with an investment capital of 500 million USD.

This project was granted an investment certificate by the People's Committee of Binh Phuoc province in September 2023 with a total investment capital of 500 million USD. The factory is built on an area of 43 hectares in Minh Hung - Sikico Industrial Park, with a production capacity of 14.4 million tires per year.

When the factory comes into operation, it will consume about 120,420 tons of natural rubber and synthetic rubber per year. At the same time, it will create jobs for about 1,600 local workers and 200 foreign workers.

Leaders of the Government and Binh Phuoc province performed the inauguration ceremony of phase 1 of the Haohua Group's tire factory.

Immediately after completing phase 1, in November 2024, Haohua Group continued to invest an additional 280 million USD to expand the factory in phase 2.

When both phases are completed, the total capacity of the project will reach 24.4 million tires per year, generating a minimum revenue of more than 1 billion USD per year for Haohua Group.

A representative of HaoHua Vietnam Company said that the company chose Binh Phuoc as the place to invest because this is the rubber "capital" of the country, has advantages in labor resources, and the locality handles procedures quickly...

After researching many locations, HaoHua chose Minh Hung - Sikico Industrial Park (Hon Quan district, Binh Phuoc province) as the first investment location in Vietnam with a total investment of up to 500 million USD.

After more than a year of construction, the factory has now been completed and put into operation. "It can be said that the decision to choose Binh Phuoc as an investment location was very correct," said a representative of HaoHua Vietnam Company.

Delegates visit Haohua Group's car tire factory in Binh Phuoc

Speaking at the factory inauguration ceremony, Deputy Prime Minister Tran Hong Ha stated that Binh Phuoc is planned to be a new growth pole of the Southeast region, with a strategic geographical location and convenient traffic routes connecting to the Central Highlands and Cambodia - Laos - Thailand. Therefore, Binh Phuoc is attracting the attention of investors.

Deputy Prime Minister Tran Hong Ha said the Government is committed to creating a favorable investment environment for businesses to operate stably and long-term, in the spirit of "harmonious benefits and shared risks". The success of investors is also the success of Vietnam.

Source: https://baodautu.vn/tap-doan-haohua-khanh-thanh-nha-may-san-xuat-lop-o-to-500-trieu-usd-tai-binh-phuoc-d232485.html