Two Singaporean investors push development of factories in Nam Dinh

On August 15, Nam Dinh Industrial Zones Management Authority issued an investment certificate for Sanbang Pte., Ltd. to build a $28.7 million project in the locality.

Covering an area of 103,400 square metres in the Rang Dong Textile Industrial Zone (IZ), the factory will specialise in manufacturing towels, woven fabrics, and drawn texturised yarns (DTY).

Sanbang Pte., Ltd. will begin construction in the first quarter of 2024, and the facility is slated to be put into operation in the fourth quarter of 2025. Once completed, the site will have an annual output of 15,000 tonnes of towels, 14 million metres of woven fabric, and 15,000 tonnes of DTY.

On August 11, Singapore's Sunrise Material also inked a deal with Dai Phong Infrastructure Construction JSC. Sunrise Material will lease 60,131 sq.m of land in the My Thuan IP – to be developed by the latter. The Singaporean company will invest $100 million in building a state-of-the-art, high-tech packaging film production plant.

The factory aims to cater specifically to the intricate packaging requirements of the industrial sector, with a focus on serving the demanding US market. Once completed, the plant is projected to generate annual imports of $200 million and exports of $500 million.

The construction is expected to be completed over a span of 15 months.

According to the Ministry of Planning and Investment, Nam Dinh has lured in $243.55 million in foreign direct investment capital in the first seven months of this year.

Of this, new projects have a registered capital of $143.96 million, while others that were pre-existing have adjusted their investment capital by nearly $4.46 million. Capital contributions and share purchases made by foreign investors totalled $95.14 million.

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