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Hung Nghiep Formosa Company Ltd sums up its operation in 2005 and celebrates year end ceremony.

Hung Nghiep Formosa Company Ltd, one of the biggest foreign invested enterprises located in Dong Nai province, on January 21st evening hosted a conference summing up 2005 and celebrating the year end ceremony.

ctyfomosatatnien Mr. Vo Van Mot, chairperson of the provincial People’s Committee attended the celebration sharing the happiness with the enterprise. With over 480 million USD of foreign investment, Formosa has become one of the largest Dong Nai based enterprises. Since the foundation of the first factory in April 2000, all subsidiaries of the enterprise have started operation by the end of 2005. Although the set target has not been reached, the company earns a total turnover of 162 million USD last year, export turnover accounted for 60%. In 2006, the company plans to continue to negotiation so that in 2006 the second turbine of the company thermo power plant will begin operation, the fabric firm No.2 will be established. The artificial fabric firm will be expanded and the BOBB firm will start operation.

Speaking to the company leaders, the chairperson of the provincial People’s Committee satisfied to the fact that foreign invested sector, especially Formosa has made remarkable contribution to socio-economic development of the province in 2005. On the occasion of the approaching of lunar new-year the chairperson wished the company success and prosperity.

(source Dong Nai Radio and Television Station)

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