Vinh Long factory to commence operations in mid-2017.
Construction of a VND705 billion ($31.6 million) canned fruit and vegetable factory began in the Mekong Delta’s Vinh Long province on April 6.
The factory will produce 11.25 million one-liter cans of fruit and vegetables per year, five million one-liter plastic containers per year, and 45 million one-liter cardboard containers or 45 million 333-ml aluminum cans per year.
All will be supplied to USFI Inc., a joint venture company between US Foods International from the US and the Hyundai Group from South Korea.
The Wemakesohafarm Co. Ltd is the investor of the project. With construction at about VND305 billion ($13.67 million), the factory covers an area of 4.78 hectares and meets US and South Korean standards.
It is expected to open by the middle of next year.
Thanks to efforts to improve its business environment, last year Vinh Long province attracted an estimated $524.7 million in investment, an 8.32 per cent increase against 2014. Foreign investment increased 24.46 per cent, and State investment 9.4 per cent.
The province is now focusing on completing infrastructure and industrial zones to help enterprises expand their business. It is also disbursing registered investment capital and attracting new investment.