GE Energy gets approval for plant

Written by Writer on Monday, October 6th, 2008

GE Energy gets approval for plant

HA NOI — The Government yesterday issued a license to GE Energy to open a manufacturing plant in Hai Phong City, said General Electric Company Vice Chairman John Rice at a press briefing.

The US$ 61 million plant, located in the Nomura Hai Phong Industrial Zone, is expected to open next year.

The plant will produce components for other GE manufacturing and service facilities around the world.

The facility will also provide installation, maintenance and repair services for the components it produces. When in full operation, the plant will employ more than 400 workers.

“This approval is timely as it allows us to proceed with our plans to start construction. We are pleased and grateful for the Vietnamese Government’s support and responsiveness in facilitating our investment,” said Rice.

“GE has been a partner to Viet Nam for a long time and we want to continue to be the country’s long-term partner in growth.”

Meanwhile, the Government yesterday also issued an operating licence to GE Money, a 100-per cent foreign-owned finance company.

“In line with our plans to expand into emerging markets, this licence enables us to actively pursue potential opportunities for growth in Viet Nam’s fast developing financial services industry,” said Rice.

“GE Money Viet Nam opened its representative office in Ha Noi in mid-2006, the first step of our commitment to establishing GE Money’s presence in Viet Nam,” he said. —VNS

By : http://vietnamnews.vnagency.com.vn