$25 million factory to provide products for Vietnam and regional countries.
Amway Vietnam is to open its second factory in Vietnam, at the Vietnam - Singapore Industrial Park II (VISIP II) in Tan Uyen district, southern Binh Duong province, on September 10.
With $25 million in investment the factory covers an area of 54,675 sq m and has a capacity of some 23.28 million products a year. It is expected to employ 170 local workers.
Director of Sales and Training at Amway in Vietnam, Mr. Huynh Thien Trieu, said that after starting its business in Vietnam in 2008 Amway Vietnam saw potential in the country’s consumer market. Vietnam has a rapidly-growing economy and incomes are rising. Amway therefore decided to build the second factory to meet demand for its products and express its long-term commitment to the country.
The factory will also supply products to regional countries once the ASEAN Economic Community (AEC) is established at the end of the year.
According to the Ministry of Industry and Trade, Mr. Trieu said, Amway Vietnam was the leader in direct sales in Vietnam in 2014 and the first half of this year, in regard to revenue and distributors. It is estimated to hold a market share of 30 per cent with ten distribution centers, 450 staff, and 300,000 distributors.