Singaporean-based HGQ ASIA Pte., Ltd will pour nearly VND500 billion ($19.7 million) into building a garment factory in the south-central province of Binh Dinh.

Under an investment registration certificate recently granted by the Binh Dinh Economic Zone Authority (BEZA), the TnB Vietnam fashion products factory will cover an area of more than 80,434 square meters at the Hoa Hoi Industrial Zone in Cat Hanh commune, Phu Cat district.

The factory will manufacture high-end fashion products, with a total capacity of 7 million items per year once it is fully operational.

Its first phase, with an annual capacity of 1.5 million items, is expected to be completed in the fourth quarter of 2026, and the second phase, 5.5 million products, is scheduled for completion in November 2027.

In another development, the provincial People’s Committee has given in-principle approval to Quy Nhon town-based Nam Viet Furniture Manufacturing and Trading Co., Ltd. to build a factory producing rattan-style plastic furniture, wooden furniture, and wood pellets.

The VND38.6 billion ($1.52 million) project will cover 19,138 square meters at the Dai Thanh Industrial Cluster in My Hiep commune, Phu My district.

Once operational by Q4/2026, the factory will produce 14,000 rattan-style plastic furniture items, 20,500 wooden furniture items, and 27,000 tons of wood pellets annually.

So far this year, Binh Dinh has attracted 57 investment projects with a total registered capital of over VND10.93 trillion ($430.5 million), including 54 domestic projects and three foreign direct investment (FDI) projects.

Of them, 46 are in the industrial sector; four in agriculture, forestry, and fisheries; two in port services and logistics; two in construction and infrastructure; two in commercial services and tourism; and one in real estate and urban development.

The province has also adjusted 104 existing projects, with an additional capital of over VND2 trillion ($78.8 million), while terminating 25 others.

Source: Theinvestor
18/11/2024