Northern Vietnam province attract $66 mln investment from Australia
Vietnam’s northern province of Nam Dinh has attracted investment of AUD100 million ($66 million) to its Rang Dong industrial park (Aurora IP), a complex specializing in apparel production.
Cat Tuong Group, a Vietnamese multi-sector business and the Aurora IP investor, and WoolProducers Australia (WPA), a body representing wool growers in Australia, signed a memorandum of understanding for the move in Sydney on Wednesday.
The signing was part of the Nam Dinh-Australia investment promotion and trade conference hosted by Nam Dinh authorities.
Cat Tuong Group Vice Chairman Nguyen Van Tuan speaks at the signing ceremony in Sydney on May 29, 2024. Photo courtesy of Cat Tuong Group.
Accordingly, the WPA will facilitate its members to approach the Vietnamese market and invest in Aurora IP. The move could help Australian businesses diversify their supply chains amid global supply chain disruptions and Australian wool producers’ heavy dependence on China.
It could also help boost the Vietnam-Australia partnership, which was elevated to a comprehensive strategic partnership in March. The deal is part of the cooperation between Cat Tuong Group and the WPA, which started in September 2023 following a WPA delegation visit to Aurora IP.
Nam Dinh is a major textile-garment hub in Vietnam. In August 2023, the provincial industrial park authority granted an investment registration certificate to Singapore’s Sanbang PTE. Ltd. for a $28.7 million fiber project in Aurora IP.
In February 2024, the province granted an investment registration certificate for a $60 million project invested by Hong Kong-based Crystal Denim Textiles (BVI) Limited in the same industrial park.
In March 2024, Zhejiang Jasan Group Co., Ltd. said it would invest CNY550 million ($76.4 million) in Nam Dinh. The Chinese sportswear producer said the project will have an annual capacity of 2,000 tons of spandex elastic thread, 18,000 tons of dyed yarns, and 65 million pairs of mid- and high-end cotton socks.
- Related News
- Read More
Central Vietnam province Gia Lai to have 600MW pumped storage hydropower plant
Gia Lai province is accelerating procedures to begin construction of the 600-megawatt Vinh Thanh pumped storage hydropower project, with a total investment of nearly VND11 trillion ($417.49 million).
Energy - Tue, April 28, 2026 | 10:07 pm GMT+7
Construction major Coteccons's profit doubles on strong revenue growth, backlog hits record high
Coteccons (HoSE: CTD), Vietnam's leading construction firm, reported a sharp rise in profit for the third quarter of its 2025-2026 fiscal year, driven by strong construction revenue, even as borrowing costs and operating expenses climbed.
Companies - Tue, April 28, 2026 | 7:03 pm GMT+7
Vietnam aims to become one of world’s top 30 economies by 2030
The National Assembly, Vietnam's legislature, has approved the socio-economic development plan for the 2026-2030 period, targeting an average GDP growth rate of at least 10% per year and per capita income reaching around $8,500 by 2030.
Economy - Tue, April 28, 2026 | 6:41 pm GMT+7
Eximbank posts Q1 profit of $13 mln, down 60% year-on-year
Vietnamese private lender Eximbank reported Q1 pre-tax profit of VND338 billion ($12.83 million), down 60% from a year earlier.
Banking - Tue, April 28, 2026 | 3:19 pm GMT+7
GE Vernova says in talks with customers amid LNG-to-renewables shift considerations
U.S. energy giant GE Vernova has been in discussion with customers following reports that at least one partner in Vietnam is reassessing plans to shift from LNG-fired power to renewable energy.
Energy - Tue, April 28, 2026 | 2:17 pm GMT+7
Vinhomes unveils mega urban area project near northern Vietnam’s world heritage bay
Vinhomes, the real estate arm of Vietnam’s conglomerate Vingroup, has debuted its 6,200-hectare urban area project located by the side of the UNESCO-recognized world natural heritage site of Ha Long Bay in Quang Ninh province.
Infrastructure - Tue, April 28, 2026 | 11:47 am GMT+7
Central Vietnam hub Danang deepens cooperation with Maersk on Lien Chieu port, logistics
Danang is stepping up cooperation with A.P. Moller-Maersk to accelerate the development of its Lien Chieu port and expand logistics capabilities, as the central Vietnam city seeks to strengthen its role in regional supply chains.
Infrastructure - Tue, April 28, 2026 | 8:00 am GMT+7
Sun Group starts work on Phan Thiet airport project in central Vietnam
Vietnamese private conglomerate Sun Group on Monday broke ground on the civil aviation component of Phan Thiet Airport in Lam Dong, marking an infrastructure boost for the central province.
Infrastructure - Mon, April 27, 2026 | 11:53 pm GMT+7
HCMC okays projects totalling $1.23 bln at flagship hi-tech park
Ho Chi Minh City authorities have granted investment registration certificates for four high-tech projects worth a combined $1.23 billion at the city's flagship innovation hub, reinforcing its position as a leading destination for digital and green economy investments.
Industries - Mon, April 27, 2026 | 5:47 pm GMT+7
Amkor eyes further expansion in Bac Ninh province as Vietnam's semiconductor push gathers pace
Amkor Technology is looking to further invest in its major production base in Vietnam's northern province of Bac Ninh, underscoring growing confidence in the country’s role in the semiconductor supply chain.
Industries - Mon, April 27, 2026 | 5:40 pm GMT+7
Vietnam banks chase record profits despite tighter credit caps squeezing growth
Vietnam’s 2026 annual general meeting (AGM) season for banks is closing with a clear paradox: lenders are targeting record profits worth tens of trillions of dong (VND10 trillion = $379.38 million), while the key growth driver – credit expansion – is being tightened.
Banking - Mon, April 27, 2026 | 1:23 pm GMT+7
Goertek Vina injects extra $20 mln into northern Vietnam plant
Goertek Technology Vina Company Limited, a subsidiary of Chinese electronics giant Goertek, plans to pour an additional over VND527 billion ($20 million) into its project in Vietnam's northern province of Bac Ninh.
Industries - Mon, April 27, 2026 | 1:04 pm GMT+7
SK Group eyes AI data center tied to $2 bln LNG power project in central Vietnam
South Korea’s SK Group is stepping up its presence in Vietnam with plans to develop an AI data center linked to the Quynh Lap LNG-to-power project in Nghe An province, as it pushes its “AI full-stack” strategy overseas.
Industries - Mon, April 27, 2026 | 9:45 am GMT+7
State divestment from Viglacera to be delayed
The Ministry of Construction will postpone plans to divest state capital from Viglacera (HoSE: VGC) - Vietnam's leading construction material producer and industrial real estate developer, citing valuation challenges and the need to safeguard state assets, a senior official said.
Companies - Mon, April 27, 2026 | 8:05 am GMT+7
Many Vietnamese firms post surging Q1 profits, some up dozens of times year-on-year
First-quarter 2026 earnings at many Vietnamese companies rose sharply despite market volatility, with some firms reporting profits dozens of times higher than a year earlier.
Companies - Mon, April 27, 2026 | 8:00 am GMT+7
Central Vietnam province approves conversion of production forest land for Sun Group's $254 mln urban project
Authorities of Quang Ngai province have approved the conversion of nearly 83 hectares of production forest land for the development of an urban area project backed by real estate giant Sun Group.
Real Estate - Sun, April 26, 2026 | 1:46 pm GMT+7
