Hunan Hualian China Industry aims to invest $200 mln in northern Vietnam
Hunan Hualian China Industry Co. Ltd., a major ceramic manufacturer in China’s Hunan province, aims to invest $200-230 million in Vietnam’s northern province of Thai Binh.
A delegation of the Chinese firm, led by its chairman Xu Junqi, made the statement at a Monday meeting with Thai Binh authorities. The investment, called “Ceramic valley,” can employ 5,000 locals, the firm added.
The Chinese company also highlighted Thai Binh’s advantages: abundant materials, a strong workforce, and quite developed infrastructure.
Investing in Vietnam is part of Hunan Hualian's strategy to bring its products to Southeast Asia and the international market, the executive noted.
Hunan Hualian Ceramic Industry chairman Xu Junqi (left, sixth) and Thai Binh Vice Chairman Nguyen Quang Hung (right, fourth) at a meeting in Thai Binh province, northern Vietnam, August 26, 2024. Photo courtesy of Thai Binh news portal.
Welcoming the investment, Nguyen Quang Hung, Vice Chairman of Thai Binh, asked relevant agencies to collaborate with Hunan Hualian to facilitate the project.
He also emphasized the province’s strengths in the construction material sector, including supporting policies related to land, a strong workforce, availability of thermal power plants, and the supply of 200 million cubic meters of gas per year.
In 2023, Thai Binh’s construction material sector reached a production value of VND5,421 billion ($218.4 million) with 25,652 laborers, Hung added.
Registered foreign direct investment (FDI) in Vietnam hit $18 billion in the year to July 20, up 10.9% year-on-year, according to the Ministry of Planning and Investment. Thai Binh ranked 13th among all localities with $430.2 million, doubling year-on-year.
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