In order to strengthen production and business activities to serve the export of outdoor machinery, on September 13, 2022 at Hoa Phu Industrial Park, Vinh Long Industrial Park Management Board adjusted the Investment Registration Certificate for Liquid Combustion Technology Vietnam Joint Stock Company with adjustment contents such as increasing the scale, usable workshop area, investment capital and supplementing the project implementation schedule.
Products manufactured by Liquid Combustion Technology Vietnam Joint Stock Company in Hoa Phu Industrial Park
Along with countries in the Asia-Pacific region, Vietnam is now considered an attractive destination for US investors. Since the beginning of 2022, many large US corporations have broadened their investment into Vietnam. In which, Liquid Combustion Technology Vietnam Joint Stock Company is an enterprise with 100% investment capital from the United States, is an export processing enterprise in the industrial park and was established in 2020 to carry out the project of manufacturing small engines for outdoor machinery at Lot A3, Hoa Phu Industrial Park, Hoa Phu Commune, Long Ho District, Vinh Long Province (factory rented from Thiet Lap Co., Ltd.).
Due to the impact of the epidemic, the demand for machinery in order for households to take care of gardens and small farms increased, so the Company expanded the project activities with a total additional capital of 3.5 million USD, equivalent to 81.83 billion VND, the factory area used increased by 5,616 m2, the production scale of small engines for outdoor machinery increased by 350,000 products/year, equivalent to 14,000 tons of products/year.
Currently, the project is operating in phase 01 with the production scale from April 2021 to July 2022 is accouting for 278,453 products with export value reaching 543.83 billion VND equivalent to 23.25 million USD, and using 210 employees. Phase 02 is expected to start production from January 2023.