Singaporean firm invests $100M in Vietnam province

By VNA August 12, 2023 | 06:53 pm PT

Representatives of Sunrise Material of Singapore and Dai Phong Infrastructure Development JSC at the signing ceremony for launching a project in Nam Dinh Province, Aug. 11, 2023. Photo by VNA

Sunrise Material of Singapore signed an agreement with a Vietnamese company this week to develop a polymer wrap film production project worth US$100 million in the northern province of Nam Dinh.

The deal was signed Friday with the Dai Phong Infrastructure Development JSC.

The project will cover 4 ha at the My Thuan Industrial Park. Its construction will be carried out in five years, starting in 2024. The factory is expected to manufacture the first products after 15 months, according to an executive of Sunrise Material.

Chairman of the Nam Dinh People’s Committee Pham Dinh Nghi said this is a big project demonstrating the province’s success in investment attraction, especially in high technology and environmentally friendly sectors.

Nam Dinh pledges the best possible conditions to help the businesses address any obstacles to the construction and operation of the project, he added.

Founded in 2004, Sunrise Material is specialized in researching, producing, and supplying hi-tech polymer wrap film, especially for food packaging. Its production is sold in over 60 countries around the world.