Germany-headquartered Harting, a global leader supplying connectivity solutions for industrial technology - data, signals, and power, opened its first Vietnamese factory in the northern province of Hai Duong on Thursday.
Prior to the latest addition in VSIP Industrial Park in Hai Duong, Harting had already operated 14 production sites and 44 sales companies and representatives across the globe, according to the firm.
The $5-million factory will be expanded from 2,500 to 7,500 square meters next month, enlarging the employment from 65 to 90 people. It manufactures industrial cable of large-scale connectors for data transmission.
“With our newly acquired site in Vietnam, we are creating an important building block in the growth region of Southeast Asia,” said CEO Philip Harting of Harting.
As production in Hai Duong is close to customers, the firm can reduce the delivery routes and improve reduction in carbon emissions, the executive added.
Registered foreign direct investment (FDI) in Vietnam hit $25.76 billion in the year to October 20, up 14.7% year-on-year, according to the Ministry of Planning and Investment. Hai Duong province was the 14th ranked locality in the country with $617.5 million.
Hai Duong’s index of industrial production (IIP) grew 7.3% year-on-year in October and 7.6% in January-October, according to provincial data. As a result, the province outperformed the country’s overall performance of 0.5% in the first 10 months of this year.