Germany’s household product firm QuickPack to invest $32 mln in Vietnam
Germany’s QuickPack, a specialist for household goods and hygiene products, will invest €30 million ($31.8 million) in Vietnam’s Mekong Delta province of Long An.
QuickPack and Long An province-based Dongtam Group signed a memorandum of understanding (MoU) for the move on Monday in Cologne, Germany, part of Long An authorities’ ongoing investment promotion activities in Europe.
Executives of QuickPack and Dongtam Group sign an MoU in Cologne, Germany on November 18, 2024. Photo courtesy of Long An news portal.
QuickPack will lease six hectares in the 1,935-hectare Dong Nam A Long An Industrial Park, invested by Dongtam Group. The firm aims to expand its facility in the southern province, the biggest one of QuickPack in Southeast Asia, to produce packaging items serving the food sector.
QuickPack CEO Joerg Schwaderer highlighted Long An authorities’ support for its investment since its establishment in the province. The export amount from the factory grew from 50 TEUs in 2017 to over 2,000 TEUs in 2024. The latest investment will enlarge the factory to 10 hectares and double the output, he added.
Construction of the new plant is set to begin in 2025 and all of the products will be exported to Europe, North America, and Australia, the executive emphasized.
Registered foreign direct investment (FDI) in Vietnam totaled $27.26 billion in the first 10 months of this year, up 1.9% year-on-year, according to the Ministry of Planning and Investment. Long An ranked 12th among all localities with $701 million, down 0.5% year-on-year.
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