Doosan Group commits $120 million investment in Hai Duong

Hai Duong, in a recent development, has successfully concluded an MoU with Doosan Group, a prominent multinational conglomerate, regarding a collaborative investment endeavour. The agreement aims to expand an existing electronic component manufacturing facility catering specifically to the automotive industry.

Under the agreement, Doosan Group has committed to executing and overseeing the investment project's expansion in Hai Duong. The project's primary focus will be on the production of flexible printed circuit boards and battery management system components utilised in electric vehicles.

Doosan Group will adhere to laws and prevailing regulations while engaging in import, export, and wholesale activities. The projected supplementary investment capital for this firm amounts to an estimated $120 million.

Doosan Group's decision to embark on this venture follows its prior substantial investments in Vietnam, particularly in energy generation, encompassing coal and wind power projects.

The upcoming project is slated to be implemented within Hai Duong's designated industrial zones, leveraging the region's favourable business environment and infrastructure.

As of the beginning of June, Hai Duong successfully attracted a significant influx of foreign direct investment (FDI), totalling nearly $210 million.

This substantial capital inflow predominantly gravitates towards newly sanctioned FDI initiatives, exhibiting a four-and-a-half-fold increase in the number of projects and an impressive six-fold surge in the registered capital when compared to the corresponding period in 2022.

Doosan Group, founded in 1896, traces its origins back to the establishment of Park Seung Jik Store in Baeogai.

Over the span of more than a century, Doosan has evolved into a highly diversified conglomerate and has earned its status as one of the world's top ten largest heavy equipment manufacturers.

Hai Duong to assist foreign-invested enterprises Hai Duong People’s Committee has committed to removing the barriers for foreign-invested enterprises to create a more open and favourable investment environment that will entice investors to expand their operations.

China’s Xiamen Hithium Energy Storage Technology to invest in Hai Duong Hai Duong province has proactively welcomed Xiamen Hithium Energy Storage Technology, a prominent Chinese high-tech business specialising in lithium-ion battery materials and energy storage systems, highlighting its dedication to attracting high-tech investments and fostering a favourable business environment.

Far Eastern Group invests further $250 million to expand factory in Binh Duong Far Eastern Group, a prominent conglomerate from Taiwan, has announced an additional investment exceeding $250 million to expand its factory in Binh Duong, elevating its total stake in the region to over $1 billion and solidifying its commitment to industrial growth and economic prosperity.