Deputy Prime Minister Hoang Trung Hai joined the inauguration of the Piaggio Vietnam Ltd Company’s first factory in Binh Xuyen Industrial Zone, northern Vinh Phuc province, on June 24.

Deputy P.M Hai congratulated the company on the success and development of its business in Vietnam .

He also asked authorities and relevant sectors in the province to improve the investment environment further to create favourable conditions for the company in production and business.

The factory was built on a total area of 135,000sq.m with a total investment of 30 million USD. It has an annual capacity of 100,000 units of 125cc and 150cc scooters and is expected to double that capacity in the future.

At the inauguration ceremony, Piaggio Vietnam debuted the made-in-Vietnam Vespa LX 125 2009. It expects to sell 15,0000 units this year.

Piaggo has sold imported Vespa scooter in Vietnam at around 5,000 USD. The locally-made vehicle will be around 1,500 USD cheaper, the company said.