GRANTING LICENCE FOR PYEONG HWA AUTOMOTIVE FOR ITS MANUFACTURING PLANT IN DEEP C INDUSTRIAL ZONES
Haiphong, 21st June 2018, the presentation ceremony of Investment Registration Certificate to Pyeong Hwa Automotive Co., Ltd. was held at Haiphong Economic Zone Authority, Haiphong city. The ceremony was attended by leader of Haiphong People’s Committee, Haiphong Economic Zone Authority and the media.
Pyeong Hwa Automotive Co., Ltd. (PHA) was founded in 1985 and is headquartered in Daegu, South Korea. PHA is listed on Korean stock exchange (KOSDAQ) and is a leading manufacturer of automotive moving parts. With 18 plants and 5 laboratories located worldwide, PHA has been a trusted supplier to top-tier car manufacturers such as BMW, Audi, Ford, General Motors, Hyundai, Kia, Volkswagen, Volvo, etc.
PHA decided to base its first plant in ASEAN countries in DEEP C II Industrial Zone, Dinh Vu – Cat Hai Economic Zone, Hai Phong – one of the most dynamic cities with highest growth rate in Vietnam. The project of PHA’s automotive part manufacturing plant covers an area of 7 ha, with an investment capital of 16.7 million USD. Upon its operation in Sept 2019, the company will be supplying 7.5 million products to the market every year, creating nearly 300 jobs for local labourers.
Apart from being one of first investors in DEEP C II, Pyeong Hwa brings along several companies in its supply chain to launch their businesses in Vietnam. This establishment of an initial automotive village in DEEP C Industrial Zones sets the foundation for the image of Haiphong as an automotive city. Further integration of domestic input in exported products will enhance their value added and the competitiveness of products made in Vietnam.
DEEP C Industrial Zones is the ideal location for automotive, logistics, general, heavy and light industries thanks to its strategic location next to deep sea port – highways – international airports. Investors in DEEP C are supported by a reliable utilities network of international standard, best tax incentives package and a dedicated team with 20 years of experience in assisting project startup in Haiphong.