In September 2024, Assa Abloy Group, a global leader in entrance automation and door control solutions, inaugurated its USD 30 million factory in the northern port city of Hai Phong. The Swedish company began its investments in the northern coastal city in December 2022, with the factory occupying 4.3 hectares in the Deep C Haiphong II Industrial Park.
The plant has an annual production capacity of two million door closers, totaling 2,800 tons. Assa Abloy plans to export its products to Europe, the Middle East, Africa, Asia, Oceania, and the United States. The facility is expected to employ 280 people.
This new factory is Assa Abloy’s second investment in Vietnam, following a USD 25 million plant at the Ba Thien II Industrial Park in Vinh Phuc province, which has been operational since 2020, with an annual capacity of three million products.
The Hai Phong facility will serve as a key production site for the group, supplying the majority of its door-closing mechanisms globally. With production facilities in 70 countries, ASSA ABLOY exports smart lock-related products to the global market.
According to the Ministry of Planning and Investment, Vietnam’s registered foreign direct investment (FDI) reached USD 24.78 billion in the first nine months of 2024, marking an 11.6% increase compared to the previous year. The highest-ever monthly FDI figure of USD 4.26 billion was recorded in September alone. Hai Phong ranks seventh among the country’s localities with USD 1.48 billion in FDI during the same period.
(Source: The Investor)
