This project marks the fifth investment exceeding US$100 million in the park, reinforcing Thai Binh’s growing reputation as a hub for high-tech foreign direct investment (FDI).

The ceiling fan factory will be implemented in an area spanning 15.6 hectares with two phases. The first phase is expected to be completed and put into operation by Q4, while the second stage will be completed by the end of 2028.

Once fully operational, the facility will manufacture ceiling fans and components for export to European and American markets. It is expected to generate VND3.2 billion (approx. US$126 million) in annual revenue, contribute VND269 billion to the state budget, and create stable jobs for 4,500 local workers.

Speaking at the ceremony, Chen Hung Wei, general director of Yuan Long Vietnam Co., Ltd., praised the strong support received from local authorities and the Green i-Park infrastructure developer, noting the company's smooth project preparation despite this being its first investment in Vietnam. He emphasised that the facility will integrate smart manufacturing and environmental sustainability, while contributing to local job creation and long-term development.

Vu Kim Cu, head of the Thai Binh Economic Zone Management Board, underlined the project's strategic importance in boosting the province’s industrialisation and modernisation goals, describing it as a testament to Thai Binh’s favourable investment climate and capacity to attract large-scale, high-tech ventures.

Chinese carmakers to build automobile plants in Thai Binh

Work on two major automobile manufacturing and assembly plants with Chinese investments will start in northern Thai Binh province in the first half of 2025.