Establishing Production Base in Viet Nam, Midea Marches In ASEAN

Early in the morning of January 16, 2007, a grand ceremony is held in the Singapore Industrial Park in Binh Duong Province of Viet Nam to celebrate the commencement of operation of Midea (Viet Nam) Industrial Zone, the overseas production base set up by Midea Group with an investment of USD25 million. It is known that, as a production base of small household appliances such as rice cooker, induction cooker and electric kettle, this is so far the largest investment project by Chinese in Viet Nam.
A lot of honored guests including Chen wenli, the vice chairman of Binh Duong Provincial People's Committee and the chairman of VSIP Investment Commission, Gao Deke, the general consul of Chinese Consulate-General in Ho Chi Minh City, Huang Yongzhi, the vice director of Guangdong Provincial Foreign Economic and Trade Department, Li Zifu, the vice mayor of Foshan and the director of Foshan Economic and Trade Bureau as well as He Xiangjian, the chairman of Midea Group's Board of Directors, Zhang Hecuan, the CEO of Midea Household Appliance Co., Ltd., Fang Hongbo, the CEO of Midea Refrigeration Equipment Co., Ltd., Huang Jian, the general manager of Midea Electric Appliance Depertment and the chairman of board of Midea Viet Nam Branch present themselves at the ceremony.
After the grand ceremony, these honored guests pay a visit to the workshops of Midea Viet Nam Branch.
The commencement of operation of Midea's production base in Viet Nam indicates an important step by Midea Group on the path towards internationalization, and the production base itself will become Midea's stronghold in ASEAN in manufacturing and exporting small household appliances. "Our goal is: Base ourselves upon Viet Nam and exert our influence on the whole ASEAN, further improve the competitive edge of Midea's products in Southeast Asia, increase our market share in the market in Southeast Asia and obtain the experience of overseas expansion." It is expected that, after going into full operation, Midea's base in Viet Nam will gain the annual production capacity of 5 to 8 million sets of small household appliances, and will realize the annual sales of USD100 million by 2010.