Danish garment maker Mascot to build second plant in Vietnam

Mascot International A/S, a Danish producer well known for its high-quality workwear and safety footwear, will build a second plant in Vietnam, located in the south-central province of Binh Dinh.

The company will build a factory, a warehouse, and a material quality control center, with investment capital of over VND1.29 trillion ($52 million). Its first plant is located in Hai Duong province, a neighbor of Hanoi.

Under an investment registration certificate newly issued by the Binh Dinh Economic Zone Authority, the project is expected to produce approximately 5 million units per year, generating an annual revenue of $51.3 million when operating at full capacity over a 10-year period.

It will also operate a 16,000 sqm warehouse and a quality control center for raw materials and accessories, with estimated annual revenue of $2.4 million.

The factory will generate around $400,000 per year from export activities as well as import and wholesale distribution rights. Revenue from technical inspection and analysis services is estimated at approximately $2 million per year.

Covering more than 9.8 hectares in the Becamex Binh Dinh Industrial Park within the Nhon Hoi Economic Zone in Canh Vinh commune, Van Canh district, the project is expected to officially begin operations by September 2026, with a lifespan extending from the issuance of the initial investment registration certificate until August 2070.

According to the provincial People’s Committee, since the beginning of the year, Binh Dinh has attracted 31 new investment projects with total registered capital of more than VND12.2 trillion ($472.9 million).

Among these, 27 are domestic projects, and four are FDI ones, with combined registered capital of approximately $23 million. In addition, 29 operational projects had their investment capital added by over VND2.2 trillion ($85.27 million).

On March 28, Binh Dinh successfully hosted an investment promotion conference, during which it granted in-principle approvals, investment registration certificates, and MoUs on investment cooperation for 62 projects, with total registered capital exceeding $8 billion.

This reflects the province's improved investment environment, making Binh Dinh an increasingly attractive destination for investors, said Vice Chairman of the provincial People’s Committee Lam Hai Giang.

Currently, investors are turning to Binh Dinh in a wide range of sectors, including industrial infrastructure, urban development, real estate, agriculture, education, and health care, he added.

“Binh Dinh continues to be a prime destination for development, and the goal of achieving double-digit growth in the coming period is highly feasible,” Giang said.