Techtronic Industries to pour a US$ 650 million investment in Vietnam

On Tuesday, the Vietnamese government revealed that Techtronic Industries has planned to invest an additional US$650 million in Vietnam to produce cordless appliances. 
June 24, 2020 | 14:38
us deploys two carrier groups to the doorstep of south china sea US deploys two carrier groups to the doorstep of South China Sea
apple to remove thousands of unlicensed games from chinese app store Apple to remove thousands of unlicensed games from Chinese App Store
chinese authorities bans us chicken shuts pepsi plant over covid 19 reflash Chinese authorities bans US chicken, shuts Pepsi plant over Covid-19 reflash
4705 techtronic industries
Techtronic Industries factory (Photo: South China Morning Post)

On Tuesday, the Vietnamese government informed that power tool manufacturer Techtronic Industries will invest an additional $650 million in Vietnam for the production of the cordless appliance, according to Reuters.

The government also revealed in its statement that the construction of the new plant in Ho Chi Minh City will be finished by the third quarter of 2021.

Techtronic Industries will also develop a research and development center in Vietnam and employ 2,000 researchers and engineers, the government added.

4757 techtronic industries investment
The company's brands (Photo: Techtronic Industries)

The company has a factory in the neighboring province of Binh Duong and has invested in the Saigon High-Tech Park.

Techtronic Industries' factory in Ho Chi Minh City is the second-largest factory, research and development center in the world of the Hong Kong company, informed Vietnam Finance.

Stephan Pudwill, Vice Chairman of Techtronic Industries commended Ho Chi Minh City for its good human resources, infrastructure and logistics, good quality suppliers, and local authorities' commitment to supporting investors. These factors contributed to the decision to invest in Vietnam by Techtronic Industries, Vietnam Plus reported.

4954 investment techtronic industries
Saigon High Tech Park, where the company invested (Photo: Industrial Parks in Vietnam)

Techtronic Industries is a fast-growing world leader in Power Tools, Accessories, Hand Tools, Outdoor Power Equipment, and Floor Care for Do-It-Yourself (DIY), professional and industrial users in the home improvement, repair, maintenance, construction and infrastructure industries. The Techtronic Industries brands like MILWAUKEE, RYOBI and HOOVER are recognized worldwide for their deep heritage and cordless product platforms of superior quality, outstanding performance, safety, productivity and compelling innovation.

Founded in 1985 and listed on the Stock Exchange of Hong Kong (“SEHK”) in 1990, Techtronic Industries is included in the Hang Seng Index as one of their fifty constituent stocks. The company maintains a powerful brand portfolio, global manufacturing and product development footprint, healthy financial position with record 2019 worldwide sales of US$7 billion and over 30,000 employees.

uk webinar highlighting post pandemic investment opportunities in vietnam UK webinar highlighting post-pandemic investment opportunities in Vietnam

On June 18, the Asia Scotland Institute from the United Kingdom held a webinar highlighting Vietnam’s achievements in COVID-19 combat as well as post-pandemic business ...

hanoi investment promotion conference set to attract 1500 delegates Hanoi investment promotion conference set to attract 1,500 delegates

The event “Hanoi 2020 – Investment and Development Cooperation” will take place at the National Convention Center on June 27. It is set to attract up ...

indonesia scholar vietnams covid 19 success makes the country strategic investment destination Indonesia scholar: Vietnam's COVID-19 success makes the country strategic investment destination

The General Secretary of Indonesia Literature Forum assessed Vietnam is a strategic country to invest follow its success in containing the COVID-19.

Candy Lee

Insider

President of Argentina Alberto Fernandez: Biography, Early Life & Career World

President of Argentina Alberto Fernandez: Biography, Early Life & Career

In May 2019, Fernández announced his candidacy for president for the 2019 election. He won the election beating incumbent Mauricio Macri.
02:23 | 27/09/2021
Vietnamese Provinces Prepares To Welcome Foreign Visitors From November Travel

Vietnamese Provinces Prepares To Welcome Foreign Visitors From November

Vietnamese Ministry of Culture, Sports, and Tourism has issued a plan to stimulate travel demand, restore the tourism industry, and resume travel activities in late 2021 and early 2022.
00:01 | 27/09/2021
Vietnam News Today (September 27): Vietnam Considers Mutual Recognition of Vaccine Passport with Other Countries National

Vietnam News Today (September 27): Vietnam Considers Mutual Recognition of Vaccine Passport with Other Countries

Vietnam News Today (September 27): HCM City expects a special mechanism for new normal; UNICEF speaks highly of Vietnam’s priority to Covid-19 orphans; Vietnam considers mutual recognition of vaccine passport with select countries; Central Vietnam province prepares to welcome foreign tourists starting November.
23:31 | 26/09/2021
Phiên bản di động