Swedish company Assa Abloy Group has launched a new $30 million factory in Hai Phong, Vietnam. As a leader in entrance automation and door control, the company plans to export its products to markets across Europe, the Middle East, Africa, Asia, Oceania, and the United States.
The new factory is expected to create around 280 jobs for the local community, with an annual production capacity of two million door closers, equivalent to 2,800 tons.
This is Assa Abloy’s second investment in Vietnam, following a $25 million factory that started operations in Ba Thien II Industrial Park, Vinh Phuc, in 2020. That facility has a capacity of three million products per year.
In the first nine months of this year, Vietnam’s registered foreign direct investment (FDI) reached $24.78 billion, reflecting an 11.6% increase compared to last year, according to the Ministry of Planning and Investment.
Souce: The Investor
