Palfinger Boats Vietnam Palfinger Boats B.V. set up a complete manufacturing facility, named Palfinger Boats Vietnam Co. Ltd, capable of designing and manufacturing all types of Fast Rescue Boats including its newest product line of hybrid (semi-electric) and light weight GRP (Glass Reinforced Polyester) boats all in accordance with the latest IMO and MED/European Commission requirements. Together with local partner Ned-Deck Marine Vietnam Co., Ltd, Palfinger Boats B.V. provides clients with complete solutions (crane and boat). The project established a facility with five distinct departments: Product Development, 3D Engineering, Production, Testing/Certification and Service. Production is divided over two distinct production processes: Aluminium and GRP. The project employed 45 people (five women) directly within the first two years. Moreover, a spin-off of easily 150 jobs can be created in the 'upgraded' and increased value adding outsourcing network.Corporate Social Responsibility (CSR)The local Vietnamese management team (three members) received an incentive programme that allows them to receive profits from the business.Impact•	Employment and working conditionsThe project employs 49 people full-time of which 16 female. For further future expansion the joint venture will attract another 40 full-time employees (10 female).The applicant implemented "excellent" working conditions in order to be able to mitigate the risk of valuable employees seeking greener pastures which is a common challenge for all investors in Vietnam. They are practical and well aware that only excellent working conditions can provide stability to their workforce.To secure commitment of the local Vietnamese management team (three members), they are offered an incentive programme with the aim to hand over a part of the business profits in return for long-term commitment and performance. This may be as high as 10% of all the shares in return for a minimum of 5 year commitment and performance.•	Innovation / Transfer of knowledgeThe certification of production personnel (including GRP, Aluminium welding, electrical and QA) is the most visible transfer of knowledge. Given the requirements on lifesaving equipment the joint venture must invest in certifying its employees. Certifying employees increases their value on the labour market, hence the company maintains a minimal one year commitment for any training received or otherwise training costs will have to be (partially) reimbursed by the employee.More advanced 3D engineering knowledge, as a real part of the design and production process, is transferred. The initial training will be done in conjunction with the local vocation training school.Furthermore, the joint venture mainly works with local partners.•	Chain effectsThe standards for producing lifesaving equipment are high and require a 100% traceability of all parts, components and workmanship credentials. The applicant considers this the most important chain effect. This traceability requirement demands all suppliers to clarify and properly document their production processes. Only through these quality improvements will local companies be able to upgrade towards export quality, greatly increasing added value. For some of the local businesses, especially those which have so far solely been relying on their cheap labour, this would be a major improvement.•	EnvironmentApplicant complies with existing environmental legislations. The company has initiatives for energy saving in the field of consumption of gas, electricity, district heating and waste management.•	Position of womenWomen are treated equally to men and the target is to have at least 30% of the senior positions to be fulfilled by woman so not only the more "traditional" female positions. To develop a complete manufacturing facility of approximately 1,800 m2 capable of designing and manufacturing and testing all types of fast rescue boats. Initial production capacity of the project is five rescue boats of 4.5 m length and one fast rescue b