Honda to build factory in Vietnam

Northern Ha Nam province in Vietnam has granted an investment license to Japanese-owned Honda Lock Vietnam Co. Ltd. to build a factory at the Dong Van II Industrial Park at a cost of US$17.3 million. The four-hectare factory will be constructed to produce lock and key parts for the automobile and motorcycle industries. Construction of the factory is expected to be completed in a year. Once operational, the factory will generate US$36 million in revenues and create more jobs for local workers. (November 26, 2008)