Covering 80,000 square meters in the Bao Minh industrial park in Vu Ban district, the factory specialises in producing yarn with an annual capacity of 9,816 tonnes, weaving (21.6 million metres) and dyeing (24 million metres).
Construction of the factory is scheduled to be completed in June 2016.
According to Nguyen Viet Thang, from the managing board of industrial zones in Nam Dinh, another investor from Hong Kong (China) is planning to build a 10,000 ha garment and textile industrial park in Nghia Hung district.
The province will submit the project to the Government for approval, he said.
Nam Dinh province has three industrial parks including Hoa Xa, Bao Minh and My Trung, which are home a total of 127 businesses with nearly 25,000 workers.