Binh Duong supports Polytex Far Eastern Vietnam Co., Ltd. to quickly resolve any obstacles

Early November 7, Vo Van Minh, Vice Secretary of provincial Party Committee and Chairman of provincial People’s Committee, has a working session with Yeh Ming Yuh, General Director of Polytex Far Eastern Vietnam Co., Ltd. regarding the company's production, business operations, investment development and the progress of the phase II and III expansion projects in Binh Duong.

Vo Van Minh, Vice Secretary of provincial Party Committee and Chairman of provincial People’s Committee receives Yeh Ming Yuh, General Director of Polytex Far Eastern Vietnam Co., Ltd.

Accordingly, the company invested in building a factory in the Bau Bang Industrial Park in 2015, specializing in the production of synthetic fibers, fabric dyeing and garment manufacturing, with initial investment of US$274.2 million.

In 2021, the Group expanded its factory in Bau Bang Industrial Park, with additional registered investment of US$ 610 million, bringing its total investment to US$ 1.37 billion.

In December 2023, the company continued pouring over US$250 million into Binh Duong to expand its production lines for high-durability fiber products (used in the production of seat belts, airbags, tire reinforcements, etc.). After this capital increase, Far Eastern Polytex Co., Ltd. has become the largest investment project in the province, with US$ 1.54 billion.

Regarding the implementation of the company’s third investment expansion project, Mr. Yeh Ming Yuh stated that the factory is progressing on schedule. It is expected to be operational by the end of 2025. He also requested provincial leaders to consider providing support in addressing certain issues pertaining to the project approval process and electricity needs.

Delegates pose for a group photo

In discussions with the company’s directorate, Mr. Minh noted that Far Eastern Polytex Vietnam Co., Ltd. is currently the largest investor in Binh Duong and has operated reliably for many years. Acknowledging the company’s challenges, especially regarding electricity requirements, he urged relevant departments and sectors to actively coordinate and assist the company to deploy the project quickly and smoothly so that it can go into operation as planned.

Chairman of provincial People’s Committee affirmed that the local authorities will accompany and support the company in quickly resolving any obstacles, promoting even more effective production in the coming time. At the same time, the province hopes that Far Eastern Polytex Vietnam Co., Ltd. will continue working efficiently, contributing to the local socio-economic development

Reported by Ngoc Thanh-Translated by Kim Tin