Furukawa Automotive Systems Vietnam, a producer of automotive wire harnesses, on Sunday began construction of the third phase of its plant in the southern province of Vinh Long.

The plant, located at Binh Minh Industrial Park, is being built on a 10-hectare site, with an investment of VND1.15 trillion ($43.65 million).

Since 2020, Furukawa Automotive Systems has invested in and commissioned the first two phases of its project, with total capital exceeding $86 million.

The two phases cover nearly 7 hectares, and have produced over 7,400 tons of automotive wire harnesses, generated close to $160 million in exports, and provided stable employment for more than 5,000 local workers.

The third phase is designed to expand production capacity and add modern equipment to meet rising demand at home and abroad.

Once completed, the project will spur the growth of supporting industries in Vinh Long. It also underscores Furukawa Automotive Systems Vietnam’s long-term commitment to the province.

Following its merger with Ben Tre and Tra Vinh provinces in July, Vinh Long has mapped out 31 industrial clusters with a combined area of about 1,656 hectares. Four clusters, spanning 188.98 hectares, are already in operation.

The remaining clusters are in the process of completing procedures, preparing sites, and seeking investors.

Source: https://theinvestor.vn/