Daewoo production in Vietnam

Daewoo production in Vietnam

SEOUL: Daewoo continues its aggressive campaign to increase
manufacturing capacity around the world with the dedication of a
new factory in Vietnam.

Vietnam-Daewoo Motor (VIDAMCO), together with joint-venture
partner Vietnam's General Administration of Economics and
Technology (GAET), will have a capacity for producing 20,000
passenger cars and 2,000 buses a year.

The South Korean industrial giant, Daewoo, holds a 65 percent
share in the joint venture which is capitalized at US$35 million.

Most of the production will be for Vietnam's domestic market
although some will be exported to Laos and other neighboring
countries.

The dedication of the plant brings Daewoo's production
capacity outside of South Korea to 581,000 units of which 458,000
are passenger cars.