Sailun has planned new investments in Vietnam

Vietnam's Deputy Prime Minister Chan Lau Kuang held a meeting in Hanoi with Lyu Yanhua, the chairman of the board of the Chinese tire company Sailun, which has its own production in the country.

According to Lyu, Sailun currently has a total of 13,723 employees, with assets valued at 26 billion yuan (3.6 billion dollars), annual sales of 18 billion yuan (2.5 billion dollars), and products represented in 180 countries worldwide. In Vietnam, the company has already invested 1.5 billion dollars, which was used to build a factory in the province of Tay Ninh and a science and technology center in Ho Chi Minh City, as well as to create a joint venture with Cooper Tire in 2019.

The factory in Vietnam is Sailun's largest site outside of China, with a staff of around 7,000 people, and all natural rubber is purchased exclusively within the country.

During the meeting, Lyu thanked the Vietnamese government for its support since 2012 and announced that the company would make new investments in the country worth 200 million dollars.

Kuang, in turn, expressed satisfaction with the development of relations between Vietnam and China, which promotes bilateral cooperation in all areas, including investment. He also noted that Sailun is one of the world's leading tire manufacturers, and the company's activities in the country definitely have a positive effect, including in terms of human resource development.