The Republic of Korean-based automobile part manufacturer ESMO Corporation inaugurated its 12.9-million-USD plant in the northern province of Ninh Binh on September 20.

The ESMO VINA plant opened in Ninh Binh province on September 20

Located at the Gia Phu industrial cluster in Gia Vien district, the ESMO VINA plant, built at a cost of more than 300 billion VND (12.9 million USD), spans 63,600 square metres.

The facility, capable of producing about 450,000 items annually, will become operational in early 2020. 

Speaking at the inauguration ceremony, Lee Huyn Chul, CEO of ESMO VINA, said the plant is ESMO’s new move to make inroads into the Southeast Asian market.

He hopes its operation will create stable jobs for locals and contribute to socio-economic growth in Ninh Binh.

Nguyen Ngoc Thach, Vice Chairman of the provincial People’s Committee, said Ninh Binh will continue its administrative reform to attract more domestic and foreign investors, particularly those from the RoK.

Ninh Binh is home to eight industrial parks and 27 industrial clusters.