The over US$170 million-factory covers an area of 62 hectares, 52 hectares of which is to hold the production area, while the remaining 10 hectares has been set aside as a service and commercial area and warehouse for lease.
The project is scheduled to be complete in 2017, generating about 35,000 jobs and earning US$455 million in revenue each year.
As the third project of Teakwang in Can Tho, the plant will be equipped with modern production lines and discharge systems meeting regulations of industrial hygiene and environmental protection.
According to Nam Jung Dae, General Director of the Teakwang Can Tho Co., Ltd, the factory will use machineries and equipment in line with standards required by the US’s Nike Inc. Its products will be distributed in accordance with Nike’s orders and exported to countries worldwide.
RoK Consul General in Ho Chi Minh City Park Noh Wan said the project will help Teakwang take full advantage of skilled labour resources in the Vietnamese locality, thus further expanding economic co-operation between the two countries.
The Vietnam-Korea Free Trade Agreement (VKFTA) and other FTAs signed between Vietnam and its partners are facilitating bilateral economic links, contributing to soon realising the two nations’ US$70-billion trade turnover target by 2020.
Vice Chairman of the Can Tho People’s Committee Truong Quang Hoai Nam said the municipal authorities always consider the RoK as a strategic partner in co-operation projects, expressing his hope that the project will significantly contribute to the city’s socio-economic development over the coming time.
