$200 mln glove factory prepares for launch in central Vietnam
China’s Kanglongda Co. Ltd. is completing the final stages for a disposable glove factory in the central province of Thua Thien-Hue.
Obtaining an investment certificate in 2019, the VND5.5 trillion ($200 million) factory will produce disposable gloves, including protective gloves for the electronics and medical industries; multi-purpose work gloves; and polyethylene fiber. The project will also include a research center.
Covering 35.6 hectares in the Phong Dien Viglacera Industrial Park, it will have a capacity of 10.08 billion of gloves and 800 tons of polyethylene per year.
The investor has basically completed the first phase of the project, with investment capital of nearly VND2.2 trillion ($93.8 million). Once operational, it will create jobs for about 1,500 workers, and pay VND220 billion ($9.38 million) to the state budget per year.
Illustration of the Kanglongda Hue glove factory in central Vietnam's Thua Thien-Hue province. Photo courtesy of Kanglongda Co., Ltd.
At a recent meeting with Chairman of Thua Thien-Hue province Nguyen Van Phuong, Zhang Jian Fang, chairman of Kanglongda Co., Ltd., said that the project is currently in trial operations, with a number of auxiliary works still to be completed.
"We hope to continue receiving support from provincial leaders to complete the final steps for the factory's inauguration," said Zhang.
Thua Thien-Hue now has 117 FDI projects with total registered capital of $4.34 billion, according to the provincial Department of Planning and Investment.
They include Aeonmall Vietnam, with an investment of $169.67 million; a JA Vietnam garment manufacturing project with $34.5 million, and the SCAVI underwear and sportswear plant with $25 million.
The province’s FDI sector posted total revenue of over $1.45 billion in 2022, up 21% compared to 2021, and contributed $145 million to the local budget, up 26% and accounting for 27% of the province’s total budget revenue.
Carlsberg Beer Vietnam Co., Ltd., accounted for 68.4% of the total budget revenue from FDI enterprises.
More than 25,000 employees worked in the FDI sector in Thua Thien-Hue in 2022, with the largest number of people working at textile and garment companies.
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