| Binh Duong will receive huge capital from Taiwan, expanding a billion-dollar project |
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6/26/2023 9:38:21 AM Far Eastern Polytex Co., Ltd. has become an FDI enterprise with a huge total investment capital in Binh Duong with more than 1.37 billion USD.
 Information on Binh Duong Newspaper said that, on the afternoon of June 21, Mr. Vo Van Minh, Deputy Secretary of the Provincial Party Committee, Chairman of Binh Duong Provincial People’s Committee received and worked with Mr. Yeh Ming Yuh, General Director of Polytex Far Co., Ltd. Eastern ( Vietnam ). At the meeting, General Director of Polytex Far Eastern Co., Ltd. Yeh Ming Yuh said that the company invested in Bau Bang Industrial Park in 2015, manufacturing synthetic fibers, dyeing finished products and garments. In 2021, amid difficulties due to the impact of the epidemic, Polytex Far Eastern Co., Ltd.’s synthetic fiber production project entered Bau Bang Industrial Park with an additional registered investment capital of 610 million USD, total investment capital. after an increase of 1 billion 370 million US dollars.  He said that in the coming quarter, in the third quarter of 2023, the company will continue to pour more than 250 million USD into Binh Duong, becoming the largest investment project in the province. Polytex Far Eastern plans to invest in expanding production lines with super-strong fiber products (applied in the production of seat belts, airbags, tire linings...). The company will also build a solar power plant to provide electricity for production. Enterprises commit to invest in Binh Duong towards green transformation, sustainable development, training high-quality human resources and join hands with Binh Duong in enhancing social responsibility to protect the environment and employees. motion. Chairman of Binh Duong Provincial People’s Committee Vo Van Minh said that after increasing investment capital, Far Eastern Polytex Co., Ltd. is one of the enterprises with large investment capital in Binh Duong with more than 1.37 billion USD. The Chairman of Binh Duong Provincial People’s Committee suggested that relevant departments and branches actively cooperate and support the company to deploy the project quickly and smoothly. About Polytex Far Eastern Vietnam Limited, in June 2015, the company received the Investment Certificate to build a factory to manufacture polyester synthetic fiber products in Bau Bang Urban Industrial Park (Bau Bang District, Binh Duong Province). Duong) has an area of 99 hectares with the registered capital of phase I investment of 274 million USD. This is the third largest factory in the world after Far Eastern Group’s factories in China and Taiwan . On May 21, 2021, Polytex Far Eastern Co., Ltd. received the Certificate of Adjustment of USD 610 million to expand its production capacity of polyester synthetic fiber products, cotton spinning products. About Far Eastern, this is a Group with a brand value of more than 85 billion USD, operating with 10 main business lines and more than 200 companies and more than 80,000 employees in 10 countries and territories around the world with the main markets such as China, Vietnam, Singapore, Malaysia, Hong Kong, Japan and the US, operated and managed by businessman Douglas Hsu, Chairman and CEO (CEO). This leader once emphasized that Vietnam has always been a stable, ideal and development destination that Far Eastern Group has chosen. |
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