Taiwan’s Chinfon Group has received a licence to build a $US78m vehicle assembly plant in Vietnam’s southern Dong Nai province.

The plant, expected to open later this year in Nhon Trach Industrial Park II, will assemble 3.5-ton vans and 6-9 passenger vehicles for SYM Motors, the Thanh Nien Daily reported on its website.

Chinfon has invested over $700m in 26 projects in the country, spanning cement, motorbikes, automobiles, and banking-finance and is now looking at opportunities in shrimp breeding, agriculture, and healthcare, the report added.