Taiwan's Sanyang to invest $70 million in Vietnam

Sanyang Industry Co, a motorbike and auto manufacturer in Taiwan, said Monday it will invest 70 million US dollars in Vietnam for commercial vehicle production.
"The 70 million dollars is the preliminary plan. It is possible we will pour more funds to Vietnam, encouraged by the country's growing economy after its entry into the World Trade Organisation," a company spokesman said.
Sanyang is scheduled to start construction of the plant facilities this year, the spokesman said, but added other details are not immediately available. Currently, Sanyang operates two plants in southern Vietnam making motorbikes and engines. The facilities roll out 300,000 motorbikes a year with most of them sold locally.