Polytex Far Eastern Co.Ltd. licensed

On June 29, provincial Industrial Parks Management Board granted an investment certificate to Polytex Far Eastern Co.Ltd.

With an investment of over US$274 million in the first phase, the company will construct a 99-hectare plant making auxiliary products, including cotton, synthetic and knitted fibers, at Bau Bang Industrial Park in Bau Bang district.

 Tran Van Nam, Chairman of provincial People’s Committee (right) handing over an investment certificate to Cheng Cheng Yu, CEO of Polytex Far Eastern Co.Ltd.

Addressing the event, provincial People’s Committee Chairman Tran Van Nam said: “I believe that with the company’s high determination plus the efforts by the local administration, this project will be implemented successfully, contributing to promoting the local socio-economic development in the next years”.

It is known that Far Eastern is one of Taiwan’s top economic groups with 8 subsidiary companies posted up on the national Stock Exchange. The group has got involved in more than 10 domains: fiber production, retail, transportation, finance, and communications…with total assets of US$77bln and total revenue in 2014 reaching US$22.2bln. In 2007, the group also opened its subsidiary company Apparel Far Eastern at VSIP 1 in Thuan An town.

Reported by K.Vinh-X.Thi-Translated by K.T