HAOHUA GROUP, SHANDONG INAUGURATES PHASE 1 TIRE MANUFACTURING PLANT AT MINH HUNG SIKICO INDUSTRIAL PARK, BINH PHUOC PROVINCE

On December 14, 2024, Haohua Group from Shandong, ranked among the Top 100 global automobile tire manufacturers, officially inaugurated its Phase 1 tire manufacturing plant at Minh Hung Sikico Industrial Park (Binh Phuoc Province).

This project has a total investment capital of USD 500 million, covering an area of 46 hectares, with an annual production capacity of over 14 million tires, generating revenue equivalent to USD 770 million. The factory was completed in less than a year, demonstrating the strong commitment of the investor, the readiness of the industrial park, and the proactive support from the Binh Phuoc provincial government.

Distinguished Guests at the Inauguration Ceremony

The inauguration ceremony was attended by: Deputy Prime Minister Tran Hong Ha, Former President Nguyen Minh Triet, Leaders from central government agencies and ministries, Consulate General of China in Ho Chi Minh City

From Binh Phuoc Province, attendees included: Alternate Member of the Party Central Committee, Provincial Party Secretary Ton Ngoc Hanh,  Deputy Party Secretary and Chairman of the Provincial People’s Committee Tran Tue Hien, Leaders of various departments, agencies, and local districts

Government Support: A Key Factor in the Project’s Success

This exceptional implementation speed is clear evidence of the close coordination and strong support from Binh Phuoc’s leadership, ensuring the project’s smooth execution. From the initial site selection phase, the province’s leaders actively facilitated the process, creating a favorable environment for Haohua to invest with confidence.

Upon receiving the Investment Registration Certificate, provincial leaders and relevant agencies provided continuous assistance, guiding Haohua through regulatory procedures, ensuring the project proceeded efficiently and on schedule.

Strategic Advantages of Minh Hung Sikico Industrial Park

At the ceremony, Mr. Huynh Thanh Chung, General Director of Minh Hung Sikico Industrial Park, presented flowers to congratulate Haohua on the successful inauguration.

A key factor that ensured Haohua’s rapid project execution was the fully completed legal infrastructure at Minh Hung Sikico Industrial Park. The industrial park was ready to transfer land use rights to investors, enabling Haohua to start construction immediately upon obtaining its investment license—an advantage that not all industrial parks can offer.

Additionally, Minh Hung Sikico’s investment consulting team played a vital role, providing comprehensive legal support. With in-depth knowledge of local regulations and practical project implementation, the team not only facilitated administrative procedures but also acted as a bridge between Haohua and government agencies, promptly resolving any issues and optimizing project execution.

Haohua’s Expansion: Phase 2 Investment Confirmed

Following the successful completion of Phase 1, Haohua has decided to proceed with Phase 2 expansion, adding 31 hectares with an additional USD 280 million investment. Depending on market conditions, Haohua may invest another USD 130 million, bringing its total investment at Minh Hung Sikico Industrial Park to over USD 900 million, making it the largest tire manufacturing project in Vietnam.

This decision strongly reaffirms the investor’s confidence in Binh Phuoc’s government and the credibility of Minh Hung Sikico Industrial Park.

At the ceremony, Ms. Tran Tue Hien, Chairwoman of the Binh Phuoc Provincial People’s Committee, officially presented the Investment Registration Certificate for Haohua’s Phase 2 project.