In the recent wave of searching for locations to expand production in Vietnam, Minh Hung Sikico industrial park in Binh Phuoc province becomes an attractive destination for international investors of various industries.
Among them, many investors from China have chosen Minh Hung Sikico as the location for business expansion in Vietnam such as Caishi International Limited, ZHENG FENG, Trinity Enterprise, Pingfu Home Products, etc.
In particular, in 2023, Shandong Haohua Tire - the tire brand ranked 32nd among the 75 leading tire companies in the world, Top 10 tire brands in China - has built an automobile tire factory with a total investment of more than 3.5 billion yuan and an area of 43 hectares in the industrial park.
Reasons why big investors from China choose Minh Hung Sikico Industrial Park for business expansion
Since the end of 2022, Shandong HaoHua Tire has conducted a survey of the investment environment in Malaysia, Thailand, Cambodia, Indonesia and Vietnam to seek a new production location abroad. Based on the detailed survey, risk assessment and analysis of the environment and investment locations in the above countries, Haohua decided to choose Binh Phuoc, Vietnam with stable political situation, rapid economic development, outstanding preferential policies and a favorable business environment as the destination to build the first automobile tire factory abroad.
First, an advantage for HAOHUA to invest in Minh Hung Sikico Industrial Park is its complete legality, which is the foundation for the Investor to conveniently and promptly fulfill legal procedures to soon put the factory into operation. In addition, it is also a prerequisite to minimize the investment risk for the investor.
In addition to the strong investment support and promotion of Binh Phuoc provincial authorities for foreign businesses, Minh Hung Sikico industrial park also has outstanding advantages to attract this big investor with a total of Investment capital of $500 million and a scale of 43 hectares.
The signing ceremony of the land sublease contract between HAOHUA (VIETNAM) CO.,LTD and Minh Hung Sikico Industrial Park was successfully held on September 8, 2023.
Minh Hung Sikico is expanding its investment attraction to foreign businesses, especially investors from China and Taiwan in a variety of industries from high-tech industries such as electronics, microelectronics to other industries generating wastewater and emissions (including plating, weaving, dyeing, and slaughtering processes) such as furniture, fiber production, supporting garment industries, food processing, animal feed, etc.