Swedish automation group opens $30-mln factory in Hai Phong

Assa Abloy Group, a global leader in entrance automation and door opening and control from Sweden, inaugurated its $30-million factory in northern Hai Phong port city on October 10, the Vietnam News Agency has reported.

The plant covers 4.3 ha in Deep C Haiphong II Industrial Park.

Construction started in November, 2022 with total investment capital of $30 million.

This is the second project invested in Vietnam by the group, following a $25-million factory in northern Vinh Phuc province.

Hai Phong has so far attracted $40 billion of FDI capital and is one among top localities of the country in FDI attraction.

The city plans to develop a new economic zone in its southern area in 2025 with a focus on green development. The zone will have outstanding incentives to attract foreign investors.