Ho Chi Minh City, November 12, 2026 – The Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) and IDICO Corporation – JSC (IDICO) held a ceremony to grant the Investment Registration Certificate and sign the Land Sublease Agreement with Zhongce Rubber Vietnam Co., Ltd. Located in IDICO Phu My II Expansion Industrial Park, the project covers an area of 34.42 hectares, with a total registered investment capital of USD 500 million, focusing on the manufacturing of tires and other products for the tire industry.

The ceremony was attended by Mr. Bui Minh Tri, Head of the Ho Chi Minh City Export Processing and Industrial Zones Authority; representatives of Zhongce Rubber Group; IDICO’s leadership; and representatives of relevant authorities and partners.

In his remarks, Mr. Truong Van Phong noted that Zhongce Rubber Group’s decision to invest in IDICO Phu My II Expansion Industrial Park reflects the investor’s confidence in Ho Chi Minh City’s investment and business environment, as well as the quality of IDICO’s industrial infrastructure and its capacity to attract international investment.

Zhongce Rubber Expands Its Global Manufacturing Network, Selecting Vietnam as a Strategic Destination

Established in 1958 in Hangzhou, China, Zhongce Rubber is one of the major tire manufacturers in the international market. According to information released by the Group, since 2009, Zhongce Rubber has consistently ranked first in revenue among tire manufacturers in mainland China and has been among the world’s Top 10 largest tire manufacturers since 2012.

The project at IDICO Phu My II Expansion Industrial Park plays an important role in the Group’s strategy to expand its manufacturing operations and global supply chain. With a total registered investment capital of USD 500 million, the project will be developed in two phases. In Phase 1, the plant is designed to produce 3 million semi-steel radial passenger car tires (PCR) and 1 million all-steel radial truck and bus tires (TBR) annually. Phase 2 is expected to add annual production capacity of 2 million PCR tires, 500,000 TBR tires, and 150,000 tonnes of rubber compounds. According to the Group’s plan, Phase 1 is expected to commence operations in July 2028, followed by Phase 2 in July 2030.

The project’s products will primarily serve export markets while also meeting demand in Vietnam and Southeast Asia. Once operational, the project is expected to contribute to the development of the tire industry’s supply chain, support the growth of supporting industries, logistics and related services, create additional employment opportunities, and contribute to Ho Chi Minh City’s socio-economic development.

Representative of Zhongce Rubber Group committed to complying with Vietnamese laws and regulations, prioritizing environmental protection, energy efficiency and occupational safety. The Group will also invest in modern technologies, develop the plant in line with green, clean and efficient operating principles, and strengthen local recruitment and workforce training.

IDICO Phu My II Expansion Industrial Park – Strategic Connectivity to Seaports and Global Supply Chains

IDICO Phu My II Expansion Industrial Park is one of the key industrial hubs in southern Vietnam, with direct connectivity to the Cai Mep – Thi Vai deep-water port complex, regional transport networks and international freight routes. These advantages facilitate the import of raw materials, manufacturing operations and the export of finished products.

With a development orientation focused on integrated infrastructure and essential services that support manufacturing activities, IDICO is progressively developing a comprehensive industrial ecosystem to meet the diverse needs of domestic and international businesses.

Mr. Dang Viet Dung, Deputy Chief Executive Officer, shared: “IDICO highly appreciates Zhongce Rubber Group’s investment decision at IDICO Phu My II Expansion Industrial Park. The project further demonstrates IDICO’s capabilities in industrial infrastructure development and attracting international investors, while advancing our strategy of developing large-scale manufacturing projects with deeper integration into global supply chains.”