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Piaggio Vietnam expands its operations
2010-0413
Piaggio Vietnam, a subsidiary of Italy's Piaggio Group, one of the world’s leading manufacturers of scooters and motorbikes, plans to produce 52,000 Vespa scooters this year as part of its programs to expand its business.
The company will also open more showrooms and dealerships across the country and develop an additional 18 distributors overseas while setting up a research and development centre to European standards.
In 2009, the company earned USD85 million , contributing VND332 billion (USD17.2 million) to the State budget, after producing 22,300 Vespa motorbikes, over 7,000 more than it expected.
Currently the company makes 70 percent of the bikes in Vietnam and generates jobs for almost 400 workers on an average salary of VND4.5 million per month.
Work on Piaggio Vietnam’s plant started in October, 2007 in Binh Xuyen industrial park in the northern province of Vinh Phuc and Vespa, a well-known brand name from the Piaggio Group, was introduced in Vietnam in June, 2009.
The company will also open more showrooms and dealerships across the country and develop an additional 18 distributors overseas while setting up a research and development centre to European standards.
In 2009, the company earned USD85 million , contributing VND332 billion (USD17.2 million) to the State budget, after producing 22,300 Vespa motorbikes, over 7,000 more than it expected.
Currently the company makes 70 percent of the bikes in Vietnam and generates jobs for almost 400 workers on an average salary of VND4.5 million per month.
Work on Piaggio Vietnam’s plant started in October, 2007 in Binh Xuyen industrial park in the northern province of Vinh Phuc and Vespa, a well-known brand name from the Piaggio Group, was introduced in Vietnam in June, 2009.
Source: VNA
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