Delegates cut the ribbon to inaugurate the project in Hải Phòng. — VNA/VNS Photo

ASSA ABLOY Group, a global leader in entrance automation and door opening and control from Sweden, inaugurated the ASSA ABLOY Việt Nam Hardware Structure Factory in Hải Phòng on October 10.

Lê Trung Kiên, Head of the Hải Phòng Economic Zone Management Board, said that the project has been in development since November 2022, covering over 4.3 hectares with a total investment of US$30 million.

The project was inaugurated after over one year of being granted an investment licence, highlighting Hải Phòng's open and favourable investment environment and ongoing support for businesses.

With production facilities in 70 countries, ASSA ABLOY exports smart lock-related products to the global market.

During the inauguration ceremony, Martin Poxton, Head of Greater China and South East Asia at ASSA ABLOY, emphasised the strategic significance of this project in the group’s hardware production operations.

Through its Hải Phòng plant, the group will supply the majority of its door-closing mechanisms worldwide. This marks the establishment of one of ASSA ABLOY’s high-tech manufacturing hubs, continuing its legacy of safe, high-quality and on-time deliveries.

Marie-Louise Thaning, Counselor and Head of Trade Promotion, Economic and Political Affairs from the Swedish Embassy, said about 70 Swedish or Swedish-affiliated companies are operating in Việt Nam.

Their presence, including ASSA ABLOY, strengthens trade and transfers world-class technology, contributing to Việt Nam’s development.

Thaning highlighted that Hải Phòng is the only city in northern Việt Nam with all five modes of transport, making it an ideal location for this investment.

In 2025, Hải Phòng plans to develop a new economic zone in the southern part of the city, focusing on green and ecological development aligned with international ESG (environmental, social and governance) standards. This new zone will include special incentives, including a free trade area to attract foreign investors.

Thus far, Hải Phòng has attracted $40 billion in foreign direct investment (FDI), making it one of Việt Nam's leading FDI destinations, according to Lê Trung Kiên. — VNS