On April 24, Vanward Electric (Thailand) Co., Ltd. officially laid the foundation stone in Thailand Rojana Baowin Industrial Park, striving to start production in one year. Vanward Thailand is mainly planned to design and produce gas oven products and kitchen appliances, with a production capacity of 900,000 gas ovens per year. According to previous announcement, the project investment would be below 253 million yuan.

At the groundbreaking ceremony, Yang Songwen, vice president of Vanward Electric, said that in order to improve the global production layout and better international competitiveness, Vanward decided to build overseas manufacturing bases in Egypt and Thailand. The establishment of two overseas manufacturing bases would improve the company's flexibility in response to market fluctuations, and create more advantageous conditions for international market expansion.

Wang Liping, Minister Counsellor of the Economic and Commercial Department of the Chinese Embassy in Thailand, said that China and Thailand have close economic and trade exchanges, This investment is of great significance to promoting the development of the "Belt and Road" market.

Located in Shunde Park, Foshan High-tech Zone, Vanward is famous for its gas water heater, which has ranked first in the market share for 19 consecutive years. Remarkably, export business has contributed nearly 40% of overall sales revenue. The groundbreaking ceremony symbolizes the official start of Vanward's international expansion.

Reporter | Tang

Revisor | Eddie, Eleanor

Photo | Nanfang Plus