China’s Sanhua inaugurates US$60 million factory in Hai Phong
VOV.VN - Sanhua Vietnam Co., Ltd, a subsidiary company of Sanhua Holding Group, inaugurated the second phase of its factory to produce air conditioning valves, products, and components, at the An Duong Industrial Park in the northern city of Hai Phong on September 4.
Addressing the inauguration ceremony, Yu Li Jun, general director of Sanhua Vietnam, revealed that the firm invested more than US$50 million into the first phase of the project in August 2018 and injected an additional US$60 million into the second phase in 2023.
The first phase of the project has been running effectively, and the second phase is duly expected to be put into operation ahead of the original schedule, said Yu.
Following the support of local authorities, the company has expanded investment and production activities in an effort to increase output and emerge as a key link in Sanhua Holding Group’s global chain, he noted.
Le Trung Kien, head of the Hai Phong Economic Zone Authority, stressed that recent additional investments into Hai Phong by Chinese firms have proved that the northern port city continues to be an attractive destination for investors.
These investments have also contributed to enhancing co-operative relations in multiple fields between Vietnam and China, as well as between Hai Phong City and Shenzhen city, towards the 75th anniversary of the establishment of the two countries’ diplomatic relations in 2025, he said.
According to the Hai Phong Economic Zone Authority, Hai Phong has so far attracted more than 100 investment projects from China with a total capital of US$12 billion, accounting for 40% of the total FDI inflows into the northern city.
Annually, Chinese enterprises export products worth US$5.34 billion and employ 58,000 workers, significantly contributing to the city’s socio-economic development.
