P&G to up razor production investment in southern Vietnam to $313 mln
Consumer goods giant Procter & Gamble (P&G) is set to raise its investment in Binh Duong province to $312.8 million to expand its capacity.
The U.S. multinational company received its latest adjustment, the 16th one, to its investment registration certificate last month. The project is located in two sites of eight hectares and 6.1 hectares in the VSIP II Industrial Park.
Staff at the P&G factory in Binh Duong province, southern Vietnam. Photo courtesy of Ryan Hollin.
P&G was among the first American businesses to enter Vietnam. In Binh Duong, the firm started a baby diaper factory in 2009 and a razor factory in 2014. It stopped the baby diaper plant in 2019 and transferred the operation to Thailand.
Then, in 2020, P&G merged the baby diaper plant with the razor plant. In 2021, the firm started expansion in Binh Duong as the plant’s capacity did not meet the demand, according to a project report.
Under the latest enlargement, the P&G factory will increase the annual capacity of razors and razor blades from 700 million to 853 million items and keep the current output of 630 million razor components. P&G will also increase its annual output of final processing of razors and shaving foams to 453 million items.
P&G aims to complete related administrative procedures in July 2024-April 2025, install equipment in April 2025-November 2025, run trial operation in December 2025-June 2026, and enter official operation in October 2026.
In March, P&G vice president Nitin Darbari told Deputy Prime Minister Tran Luu Quang that P&G was deploying new technologies to expand its production line of razors and razor blades slated for export to Asia-Pacific markets.
P&G considers Vietnam one of its strategic markets and aims to establish the country as a regional manufacturing hub and a sustainable supply source for its other markets, the executive said.
- Related News
- Read More
Online purchase below VND2 mln may be exempt from Vietnam import tax
The Vietnamese Ministry of Finance has proposed exempting goods purchased through e-commerce platforms worth no more than VND2 million ($78) from import tariff, with an annual purchase limit of VND96 million ($3,781).
Finance - Sun, February 16, 2025 | 8:00 am GMT+7
Malaysia expected to remain magnet for FDI
Malaysia’s foreign direct investment (FDI) is expected to remain robust in the long term, but there could be repercussions in the short term as investors hold back on their investment decisions amid heightened global uncertainties.
Southeast Asia - Sat, February 15, 2025 | 9:01 pm GMT+7
Laos to build $1.9 bln wind power plant to export electricity to Vietnam
The Lao Government and Chitchareune Construction - a Lao builder will jointly build the 1,200 MW Nong wind power plant, with an investment of $1.9 billion, to export electricity to Vietnam.
Energy - Sat, February 15, 2025 | 8:46 pm GMT+7
Malaysia needs more funding for semiconductor sector
Malaysia needs more funding for the implementation of the National Semiconductor Strategy (NSS) to enhance its competitiveness with neighboring countries, said Penang Chief Minister Chow Kon Yeow.
Southeast Asia - Sat, February 15, 2025 | 4:31 pm GMT+7
Thailand considers easing rules on income from overseas
Thailand’s government is considering easing personal income tax rules for individuals’ overseas income to encourage the remittance of those funds back into the country, said a senior official.
Southeast Asia - Sat, February 15, 2025 | 4:29 pm GMT+7
Nissan to close factory in Thailand
Japanese automaker Nissan has announced plans to close one of its two automobile factories in Thailand this year, following the collapse of merger talks with Honda.
Southeast Asia - Sat, February 15, 2025 | 4:10 pm GMT+7
Vietcombank leads Vietnamese banks in 2024 pre-tax profit
Vietcombank reported a pre-tax profit of VND42.2 trillion ($1.66 billion) last year, ranking as the most profitable Vietnamese lender, according to the Vietnam Banking Association (VNBA).
Banking - Sat, February 15, 2025 | 4:04 pm GMT+7
Vietnam's leading trade firm Hapro appoints new general director
Hanoi Trade Corporation (Hapro), a leading producer and exporter of agricultural produces in Vietnam, has appointed deputy general director Duong Thi Lam as general director, effective from March 1, 2025.
Companies - Sat, February 15, 2025 | 2:18 pm GMT+7
Private Vietnamese lender DongA Bank renamed Vikki Bank
DongA Bank, a private lender in Vietnam, has changed its name to Vikki Bank, with approval from the State Bank of Vietnam (SBV).
Banking - Sat, February 15, 2025 | 10:59 am GMT+7
Korea's SK Group seeks partnerships in LNG-fired power projects in Vietnam
South Korean chaebol SK Group seeks to jointly build LNG-fired power plants in Vietnam and then develop facilities utilizing electricity generated by those power plants.
Energy - Sat, February 15, 2025 | 9:26 am GMT+7
World’s largest shipping line MSC docks at southern Vietnam port
Phuoc An Port, the largest seaport in Dong Nai province, on Thursday welcomed the first ship from MSC, the world’s largest shipping line, opening up significant opportunities for boosting international trade in Vietnam’s southern region.
Economy - Sat, February 15, 2025 | 8:17 am GMT+7
Vietnamese chemical-pharmaceutical industry eyes yearly growth of 8-11% by 2045
Vietnam's chemical-pharmaceutical industry is expected to achieve an annual growth rate of 8-11% by 2045, according to a newly-approved program on the industry’s development until 2030, with a vision to 2045.
Southeast Asia - Fri, February 14, 2025 | 11:28 pm GMT+7
Vietnam PM urges world's food industry leader JBS S.A to invest in livestock farming, meat processing
Brazil’s JBS S.A, the world’s largest meat processing enterprise, should consider investing in livestock farming, meat processing, industrial crops, and coffee processing in Vietnam, said Prime Minister Pham Minh Chinh.
Industries - Fri, February 14, 2025 | 11:08 pm GMT+7
China proposes new initiatives of cooperation with ASEAN
China has unveiled new proposals to boost cooperation with ASEAN in key areas such as maritime cooperation, artificial intelligence, transportation, blue economy, women’s and children’s health, and the environment, towards strengthening the comprehensive strategic partnership between the two sides.
Southeast Asia - Fri, February 14, 2025 | 8:17 pm GMT+7
Honda Vietnam’s motorcycle, car sales decline in Jan
Honda Vietnam's motorcycle sales reached 198,911 units, marking a 12.6% decline from January 2024, while it sold 1,826 cars, a 9.7% decrease year-on-year.
Southeast Asia - Fri, February 14, 2025 | 8:15 pm GMT+7
Vietnam auto sales fall 2% to 18,893 in Jan amid EV trend
Members of the Vietnam Automobile Manufacturers' Association (VAMA), not including VinFast and Hyundai, sold 18,893 units in January 2025, down 2% year-on-year and 40% from December 2024.
Companies - Fri, February 14, 2025 | 4:50 pm GMT+7
