The Hwaseung Group from the Republic of Korea have begun construction of a US$39.5 million sports shoe factory in the Nhon Trach Industrial Zone 1 in Vietnam.
The factory is expected to begin production later this year, producing 1.2 million pairs of shoes a month for Reebok. This is Hwaseung’s first factory in Vietnam and the 11th in Asia.
Hong Kong’s Freetrend Company have also decided to invest US$30 million to build one more footwear factory in the Linh Trung 2 industrial park (IP), Ho Chi Minh City. The company have signed a contract to occupy 11.2 hectares.
Freetrend Company specialise in footwear manufactured under the trademarks Adidas and New Balance and export mainly to Europe.
Source: Daily Vietnam News/Daily Nhan Dan
