Hong Kong-based group Crystal International plans to invest $200 million in Vietnam’s northern province of Nam Dinh to manufacture cloth, fiber, and garments.
Chan Chi Yuen, an executive in charge of project development in Vietnam, made the statement at a Friday meeting with Pham Gia Tuc, chief of Nam Dinh's Party Committee.
In the first phase of $60 million, the project, located in Rang Dong (Aurora) Industrial Park, could reach an output of 55 million meters of garments, employ 800 people, generate a revenue of $110 million, and contribute $6 million to the state budget, the executive said.
In the next phase of jean production, employment could increase to 4,000 while revenue can double, he added.
Welcoming the project, Tuc said Aurora Industrial Park specifically serves the apparel and textile sector. Another advantage of the province is its proximity to Noi Bai airport in Hanoi and seaports in the northern city of Hai Phong.
The province also heavily invests in housing for laborers and expatriates, and facilities for employees’ children such as playgrounds, hospitals, kindergartens, and schools, he added.
Highlighting the project as a key material supply source for Vietnam’s apparel-textile sectors, Tuc said Nam Dinh province would provide the best conditions for the project’s implementation, from administrative procedures to operational activities.
Founded in 1970, Crystal International is a partner of global major brands, including H&M, Adidas, Nike, Under Armour, Uniqlo, Victoria Secret, Puma, and Levi’s. It now runs 20 factories in Vietnam, China, Bangladesh, Cambodia, and Sri Lanka. Out of 73,095 staff as of end-2022, Vietnam accounted for the biggest portion of 49.6%.
In Vietnam, the firm operates factories in Hanoi, Hai Phong city, and the provinces of Hai Duong, Bac Giang, Phu Tho, and Binh Duong, earning an export revenue of $1 billion annually.