Binh Phuoc awarded the certificate of registration of investment of the project of 500 million USD

Attending this important event were: the Party Central Committee member, Provincial Secretary - Mr.Nguyen Manh Cuong; Deputy Secretary of the Provincial Committee, Chairman of the People’s Committee of the Provincial People’s Committee - Mrs. Tran Tue Hien; leader of departments and sectors of the province and investor of Minh Hung - Sikico Industrial Park.

The HAOHUA tire factory project (Vietnam) is deployed in Minh Hung Sikico Industrial Park, Dong No commune, Hon Quan district, Binh Phuoc province on the total land area of 43 hectares. After completing the investment preparation procedures, according to plan, the project will start, build factories, install machinery for production line systems in 1st quarter 2024.

Products of the Haohua Tyre Production Plant include: Radial Tyre Selling Steel and All Steel Radial Tyre for cars and other vehicles. The production capacity of all-steel radial tires with annual output is 2.4 million sets/year and radial tires sell steel with output of 12 million sets/year. Annual output value is expected to reach $770 million. The factory will address jobs for about 1,600 local workers and 200 foreign workers.
 

The HAOHUA Group has been deeply involved in the tire industry for over 20 years, with a focus on research, development, manufacturing and tyre manufacturing. With advanced tire research and development, production, test equipment and professional management and engineering teams, the tire products are very well marketed at home and abroad. SHANDONG HAOHUA TIRE ranks among the top 10 in Chinese Tire industry, ranking 32nd among the top 75 TIRE companies in the world. The company has the capacity to produce 20 million semi-steel tires and 4.8 million all-steel tires, and the total annual production value of 8 billion yuan, which is a major export company, represents 75% of all sales.

After its commissioning, it is planned that in the third quarter of 2025, total estimated consumption of synthetic rubber and natural rubber is 120,420 tons/year, imported from China and in Vietnam. Of these, the average rubber output in Vietnam is 96,506 tons/year.

This is particularly important for the Binh Phuoc  province, which has the largest area of rubber trees in the country, covering more than 240 thousand hectares. The project is expected to contribute to increased revenue in the province's rubber industry, stimulate economic restructuring and raise people Binh Phuoc’s  income.

The issuance of investment certificates again confirmed the province's highest political determination and effort as well as infrastructure investors and, in particular, Minh Hung Sikico Industrial Zone investor - Sikico, in promoting and attracting investment focus; innovate incessantly, to reform strongly, actually to attract large, radiative projects, attract other satellite support projects; establish an active investment and business environment, cooperate in the development of the  Binh Phuoc province with the strategic partners; As well as providing incentives to attract more interested investors in the Binh Phuoc  province.
 

The province is committed to accompanying investors in the process of implementation, will create the most favorable conditions on policy, on investment environment, business within the framework of law so that the project will soon go into operation and achieve the highest efficiency. Recommend to lead the Management Board of Economic Zones and related departments, sectors and localities of interest, identify this as the central project of the province to coordinate and support; quickly solve the administrative procedures related to the project according to regulations; promptly address the difficulties and problems arising to put the project into operation on the schedule set. Chairman of the People’s Committee of Binh Phuoc Province - Mrs. Tran Tue Hien

Chairman of the Provincial People’s Committee - Mrs. Tran Tue Hien expressed the desire that the company continue to actively implement investment plans, early start construction and put the project into operation to ensure the regulations of Vietnam law.

In the investment process, business production is associated with environmental protection; prioritize the application of high technology in production; focus on building enterprise culture, building progressive labor relationships, creating opportunities for workers to develop expertise, skill and enjoy the safe, respected labor environment./.