Sanhua (Vietnam) Company Limited inaugurated its expanded factory, part of a $60.8 million investment in the northern coastal city of Hai Phong, last week.
The company is a subsidiary of China’s Sanhua Holding Group, a leader in the heating, ventilation, air-conditioning and refrigeration (HVAC-R) industry.
The parent firm is well known as a supplier for global air-conditioning brands like Gree, Midea, Daikin and Carrier.
The expanded factory marks completion of the second phase of Sanhua Vietnam’s investment, covering 13.1 hectares. The project's first phase covering 7,000 square metres (0.7 hectares) was completed in August 2018.
Speaking at the inauguration ceremony, Le Trung Kien, head of the Hai Phong Economic Zone Authority (HEZA), said municipal authorities were committed to supporting Sanhua and Chinese businesses in the city.
So far, Hai Phong has attracted $12 billion in Chinese direct investment, a significant portion of the city’s total FDI of $40 billion, he noted.
Chinese firms in the city, including well-known names like Flat, Tongwei TP-Link, Autel and Sanhua, record average annual revenues of $5.34 billion and employ 58,000 people, making a major contribution to the city’s socioeconomic development, Kien said.
The firm managed to complete the project's second phase earlier than the original schedule of November 2024. The expanded factory will increase the firm’s annual output from 7,000 to 11,900 tonnes of components.