The joint-venture Aucma Vietnam Electrical Appliances Company (A&V) has begun operations in Tan Tao Industrial Park of Ho Chi Minh City to supply both domestic and international markets.
The joint venture has legal capital of U.S. $800,000, 69 percent of which has been invested by China's Quindao Aucma Company and 31 percent by the local Van Anh trading company.
It will manufacture a range of products, including air-conditioners, freezers, solar water heaters, and electric bicycles. The company's factory has a designed production capacity of 60,000 products a year.
About one-half the output will be exported to such markets as Thailand, Malaysia, Cambodia, and the Europe, said Li Wenyi, the company's general director. These exports are expected to bring in revenue of around $1 million annually.
As existing orders placed with the Aucma parent company have been passed on to A&V, the first shipment will take place next month. The products will also be available on the domestic market later this month. A&V is providing jobs for around 150 staff. (Asia Pulse)
to Daily News