China’s stationery manufacturer Deli starts work on $270 mln plant in northern Vietnam
Deli Group, a leading stationery manufacturer in China, has begun construction on a $270 million plant in Vietnam’s northern province of Hai Duong, marking its largest overseas project to date.
The Deli Hai Duong factory will span 21.2 hectares at the Dai An Industrial Park and is slated to operate until January 1, 2073.
China's Deli Group breaks ground on a $270 million factory in Hai Duong province, northern Vietnam, September 28, 2024. Photo courtesy of Hai Duong newspaper.
Once operational, it is expected to annually produce over 104 million stationery and household products made from paper and plastic; 2.4 million personal electronic devices, photocopiers, and shredders; and 22.5 million rubber-based products such as rubber balls, sticks, and mats.
The plant is estimated to generate some $5 million in yearly revenue.
Addressing the groundbreaking ceremony on Saturday, Deputy Prime Minister Ho Duc Phoc emphasized that the Vietnamese government is committed to supporting foreign firms operating in the country and continuing to refine its legal framework to foster business development.
Phoc informed that Vietnam's GDP growth is expected at 6.5% this year before accelerating to 7-7.5% next year.
Vietnam has by far attracted over 41,100 FDI projects worth a total of $500 billion. China, including Hong Kong and Macau, has poured $66 billion into Vietnam, coming sixth among countries and territories investing in the nation, the deputy prime minister said.
Hai Duong province, located 50 km to the east of Hanoi, is home to 584 foreign-invested projects valued at $10.5 billion from 27 countries and territories.
It is projected to have 32 industrial parks covering 5,661 ha by 2030, including 12 operational ones and six under site clearance. Currently, the province is seeking to develop two new industrial parks with a total area of 600 ha.
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