A Hong Kong enterprise invested nearly 1,500 billion dong to build a factory in Nam Dinh
The Management Board of Industrial Parks of Nam Dinh Province has just issued a certificate of investment registration for the Yi Da Denim Mill project to produce textile products at the Rang Dong Garment Industrial Park (Nghia Hung).
Earlier, on February 28, the Management Board of Industrial Parks (IZs) of Nam Dinh Province issued a certificate of investment registration for the Yi Da Demin Mill (VN) Co., Ltd project to produce textile products at the Rang Dong Textile and Garment Industrial Park (Nghia Hung).
According to the Investment Registration Certificate, the investor is Crystal Denim Textiles (BVI) Limited, represented by Mr. Lo Lok Fung Kenneth, a British national, as the legal representative.
The Yi Da Demin Mill (VN) Co., Ltd project has a total land area of 241,600 square meters at plot R, Rang Dong Garment Industrial Park.
Nam Dinh continues to attract foreign investment capital
The total investment capital of this factory is 1.467 billion VND (equivalent to 60 million USD); of which 293.4 billion VND (equivalent to 12 million USD), accounting for 20% of the total investment capital, is the investor’s capital.
The project is invested in three stages. In stage 1, the total investment capital is 880.2 billion VND (equivalent to 36 million USD). The investor will focus on completing relevant legal procedures, with construction expected to commence this year; completion of construction in the first quarter of 2026; trial operation of machinery in the second quarter of 2026; and official production from the third quarter of 2026.
For stage 2, the total investment capital is 293.4 billion VND (equivalent to 12 million USD). The investor will complete legal procedures and start construction from the fourth quarter of 2026 to the second quarter of 2028; completion of construction and trial operation of machinery in the second quarter of 2028; and official production in the fourth quarter of 2028.
For stage 3, with a total investment capital of 293.4 billion VND (equivalent to 12 million USD), the investor will complete legal procedures and start construction from the third quarter of 2028 to the second quarter of 2030; completion of construction and trial operation of machinery in the third quarter of 2030; and official production in the fourth quarter of 2030.
After completing construction in all three stages, the projected annual capacity of the project is: 55 million square meters of dyed fabric, 5 million square meters of undyed fabric; 20 million clothing products.
According to the Provincial Industrial Parks Management Board, the Yi Da Demin Mill (VN) Co., Ltd project is a project under the Crystal Group, Hong Kong (China) investment. According to this enterprise, Vietnam has been the main production base of the Group for the past 20 years with 5 factories in provinces and cities including Hai Duong, Hai Phong, Bac Giang, Phu Tho, Binh Duong, …
Nam Dinh becomes a bright spot in attracting FDI
Currently, Nam Dinh province has 10 Industrial Parks approved by the Prime Minister for planning, with a total area of over 2,046 hectares. Among them, 4 Industrial Parks have been formed, including: Hoa Xa Industrial Park, My Trung Industrial Park, Bao Minh Industrial Park, Rang Dong Garment Industrial Park will be retained. Bao Minh Industrial Park, Hoa Xa Industrial Park, due to full occupancy, have reached 100%.
According to the Nam Dinh provincial planning for the period 2021 – 2030, vision to 2050, by 2030, Nam Dinh will have an additional 10 Industrial Parks, thus, the total area of newly established Industrial Parks in the period 2021 – 2030 will be 1.3 times the current area. By 2050, it is expected that the total number of Industrial Parks in Nam Dinh province will increase to 27 Parks with a total area of 6,721 hectares.
Recently, Nam Dinh has become a bright spot in attracting FDI with consecutive projects receiving foreign investment.
At the end of November 2023, the Xingyu Vietnam Safety Technology project of Xingyu Safety Technology (Singapore) was granted an investment certificate by the Nam Dinh Provincial Industrial Parks Management Board for the expanded Bao Minh Industrial Park. The project has a total investment capital of 2,027 billion VND, equivalent to 84.47 million USD, implemented on an area of 103,550 square meters.
In October 2023, the People’s Committee of Nam Dinh province also signed a memorandum of cooperation for the development of the AEON Nam Dinh commercial center with AEON Vietnam Co., Ltd (a member of the AEON Group, Japan). In addition, Gulf Energy Development Group (Thailand) also proposed to build an LNG power center investment project with a capacity of 1,500-3,000MW and an LNG port warehouse capable of receiving 200,000 DWT ships in Nam Dinh.
In the first 8 months of 2023, Nam Dinh province welcomed a large wave of investment from foreign corporations such as: Quanta Computer Inc investing in a computer manufacturing project with a total investment capital of 120 million USD, with a planned design capacity of 4.5 million computers/year; JiaWei Group investing in a group of 3 high-tech home appliance manufacturing projects with a total planned capital of about 100 million USD; Sunrise Material Group investing in the construction of a high-tech polymer film manufacturing plant worth 100 million USD…
