HANOI Feb 2 Vietnam's northern port city
of Hai Phong has approved the construction of a $575 million
tyre factory by a subsidiary of Japan's Bridgestone Corp
, the state-run newspaper Nhan Dan quoted municipal
authorities on Thursday as saying.
The factory will start operation in 2014 and have a capacity
of 24,700 tyres a day, all of which will be exported, said the
Macroeconomic instability in recent years has spooked some
foreign investors, but businessmen and associations say Japanese
companies, propelled in part by a strong yen, have been
aggressively looking for opportunities in Vietnam.
(Reporting by Ngo Thi Ngoc Chau; Editing by Ed Lane)