Lotte Vietnam opens second factory in Binh Duong

Lotte Vietnam opened a second factory with total investment of VND500 billion ($21 million) in Binh Duong province on February 23.

Covering 4 ha, the factory is located at the My Phuoc I Industrial Park and will produce Choco Pie products for the domestic market.

It is expected that Lotte will begin producing Choco Pie with the brand-name “Chocolat”, with a launch in April.

After the new factory comes into operation, it plans to invest in a solar power generation system to reduce plastic materials at its chewing gum factory.

In addition to investing in factories, Lotte has also invested in LotteMart supermarkets in Binh Duong, with investment of $30 million.

Among countries investing in Binh Duong, South Korea was ranked fifth with 756 projects and total capital of $3.3 billion at the end of 2022, accounting for 19 per cent of projects and 8 per cent of total FDI, according to the Binh Duong Department of Planning and Investment.