South central Binh Dinh province welcomes $20 mln project from Singapore investor

The Binh Dinh Economic Zone Management Board has granted an investment registration certificate to HGQ Asia Pte. Ltd. (Singapore) for the TnB Vietnam garment manufacturing factory project.

The $19.5 million project will be built on an area of over 80,434 sq.m in Hoa Hoi Industrial Park, in Phu Cat district of south-central Binh Dinh province.

The TnB Vietnam garment factory is designed to produce 7 million high-end fashion products annually and will be implemented in two phases. Phase 1, from October 2024 to October 2026, will see an investment of over $7.8 million to achieve a capacity of 1.5 million products per year. Phase 2, from November 2026 to November 2027, will involve an investment of over $11.7 million to increase capacity to 5.5 million products per year.

The project is expected to not only enhance industrial production in Binh Dinh province but also create numerous job opportunities and promote sustainable economic development in the region.

In mid-September, another Singaporean investor, Future Enterprises Pte. Ltd., committed over $80 million to a freeze-dried instant coffee factory project, which is being built on an area of 7.11 ha in Becamex VSIP Binh Dinh Industrial Park, in Van Canh district of the south central province.

According to the Ministry of Planning and Investment, by the end of October 2024, Binh Dinh had attracted 98 foreign direct investment (FDI) projects, with a total registered capital of over $1.25 billion. Besides FDI projects, in early November 2024, the locality also received two domestic investment projects in Phu My district.