Another foreign company investing in the Giao Long industrial park

On October 17, 2006, Ben Tre's Industrial Parks Authority (IPA) held a ceremony to hand over the investment licence to the Thailand-based Alliance One Apparel Company Limited. The project that the company is planning to invest in the
Giao Long Industrial Park is estimated at US$18.1 million.

Alliance One Apparel Co., Ltd. was incorporated by 6 investors, namely Mr Chaiyapong Vechamamontien, Mrs Suwanna Vechamamontien, Mr Thai Wangbunyen, Mr Wudthipong Yeh, Mr Suchai Kosriyarakvong (all of them are Thai naitonality), and Mr Cheng Chin Yeh (a Taiwanese), with Mr Chaiyapong Vechamamontien as Chief Executive of the company.

For the first phase of their project in the Giao Long IP, the Alliance One Co. has been allotted to operate in 85,000 sqm of land space. The company has put forth its core operation in manufacturing and processing of garment and apparel for export, with annual capacity planned at 16.5 million pieces of products, creating jobs for more than 2,000 local people. The company's investment live span has been put in 50 years since the licence date.

By investing in the Giao Long IP, the Alliance One Co. has been granted with incentives such as land lease price at US$0.5/m2 per annual (for the total lands space of 85,000 sqm), a 20% reduction of annual land lease for the project worth more than US$5 million, land lease exemption during the time of space leveling and construction of facility (but not lasting more than 24 months), ... and many other incentives.

Translated by Truong Hung