Singapore's Billion Union builds $70 mln fabric factory in Vietnam
Hong Kong-invested Thanh Hoa Billion Union Textile kicked off the construction of a $70 million factory in Vietnam’s central province of Thanh Hoa on Monday.
Covering 32 hectares in Nghi Son Economic Zone, the province has an annual capacity of 18,000 tons of fabric, equivalent to 120 million square meters, for domestic and foreign markets.
The project is set to enter operation from June 2026.
Billion Union holds a ground breaking ceremony in Thanh Hoa province, central Vietnam, on February 17, 2025. Photo courtesy of Cong Thuong (Industry-Trade) newspaper.
Apparel-textile and footwear are now key sectors of Thanh Hoa, accounting for 90% of the province’s export revenue.
Speaking at the groundbreaking ceremony, Thanh Hoa Vice Chairman Nguyen Van Thi said the project is a priority of the province which will help boost its socioeconomic growth.
He called on the firm to meet the construction deadline and not to leave any negative impacts on local citizens.
Registered foreign direct investment (FDI) in Vietnam reached $4.33 billion in the first month of 2025, up 48.6% year-on-year, while disbursed FDI capital hit $1.51 billion, up 2%.
Thanh Hoa ranked 27th among all cities and provinces with $6.1 million in registered capital in the month.
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