Vinh Long, a Vietnamese furniture manufacturer, will invest $5 million to locate an operation in an existing building in Morrilton that will employ 75 people.
The company, which produces home furnishing products made from natural fiber mixed with industrial materials, will locate in the former Bosch building in Morrilton.
Vietnam’s Ambassador to the U.S. Nguyen Quoc Cuong joined Madam Phan Thi My Hanh, Chairman of the Board and General Director for Vinh Long at during the Thursday (Nov. 21) announcement that included Gov. Mike Beebe.
“We see great potential for wood-based products manufactured in Arkansas for several reasons, including the fact that Arkansas’s sustainable supply of raw materials fits into our global vision of creating a better life for all people,” Madam Hanh said in the statement. “Strong support from the Arkansas Economic Development Commission and city officials has allowed us to speed up our timeline to get our product to market quickly and efficiently.”
“Vinh Long’s investment in the State of Arkansas shows the growing business relations between Vietnam and the United States,” Ambassador Cuong said. “As our two countries are embarking on common endeavors, especially the Trans-Pacific Partnership negotiation, more jobs and economic growth will be created, here in the United States as well as in Vietnam. I wish Vinh Long – Arkansas Ltd. great successes.”
Vinh Long-Arkansas Ltd. plans to begin production in summer 2014. The company will begin hiring this spring. Vinh Long Import-Export Manufacturing Joint Stock Company was founded in 1976, since starting operations from a small weaving group representing for local women. The company has grown to become one of Vietnam’s largest natural fiber manufacturers. With 850 of in-house employees and nearly 10,000 home weavers, the company is a key player in the natural fiber manufacturing industry.
“Arkansas remains a popular choice for international investment, and we appreciate Vinh Long's decision to bring this operation to Morrilton,” Beebe said in a statement. “Companies around the world continue to recognize that our location and workforce make Arkansas an ideal site for expansion.”