Searee secures foreign investment to boost production and finance

Searee secures foreign investment to boost production and finance

Searee Mechanical and Refrigeration has rolled out a series of strategic initiatives in Danang aimed at attracting long-term investment, securing mid-term financing, and restarting operations at its mechanical manufacturing facility.

Searee Mechanical and Refrigeration JSC, a key member of the Searefico Group, announced the move on June 27, following the government's Decision No.1142/QD-TTg from June 13, which approved the establishment of Danang Free Trade Zone (FTZ).

Following the decision, Searee has recommissioned its mechanical factory and launched a new production line for ducting and accessories under the Thanh Xuan brand. On the same day, Searee signed a Share Subscription Agreement (SSA) with Taisei Oncho Vietnam (TOVH) and a Shareholders’ Agreement (SHA) with Searefico E&C, and TOVH.

Shinji Mizayaki (left), general director, Taisei Oncho Vietnam and Phan Dinh Vinh, general director, Searee

Through the SSA, TOVH becomes a direct equity investor in the Searee Industrial Building (SIB) in Danang while the SHA sets a framework for transparent corporate governance, aligned decision-making, and sustainable cooperation among all stakeholders.

Phan Dinh Vinh, general director of Searee and deputy CEO of Searefico E&C, said, "These agreements lay the foundation for professional corporate governance and responsible capital allocation, ensuring maximum benefits for all stakeholders while contributing to broader economic development."

Meanwhile, Nguyen Khoa Dang, CEO of Searefico Corp and chairman of Searee, revealed that as part of its strategy until 2028, the company is targeting an additional 50,000 square metres of leasable floor area and a future initial public offering.

"We believe TOVH will remain a long-term strategic partner, not just a financial investor," said Dang.

The SHA between Searee, Searefico E&C, and TOVH was signed on June 27

Searee also secured a mid-term credit facility from Techcombank, bringing the total value of newly mobilised capital to approximately VND120 billion ($4.7 million), combining both foreign direct investment and domestic financing.

The capital injection enables Searee to accelerate the construction of the Searee Industrial Building (SIB) in Hoa Khanh Industrial Zone.

The facility, expected to launch in January 2026, features a five-story layout with a semi-basement and a total height of 28m.

It is one of the first industrial projects in Hoa Khanh Industrial Zone to utilise a high-rise model for optimised land use. It is designed to meet Leadership in Energy and Environmental Design (LEED) and FM Approvals, a globally recognised certification body that provides independent testing and certification of products and services, primarily for loss prevention and property protection, targeting international Foreign Direct Investment clients with stringent requirements on sustainability.

Alongside Searee’s developments, other Searefico ecosystem companies are ramping up project execution and backlog resolution.

In the first half of the year, Searefico successfully unlocked nearly VND1.4 trillion ($56 million) in backlogs, a notable achievement amid a volatile construction and materials market.

With Searee’s new momentum and system-wide operational synergy, Searefico Group is poised for sustainable growth in the latter half of the year and beyond. These strategic steps reflect Searefico’s long-term ambition to become a top industrial platform in Vietnam, driven by innovation, integration, and international partnerships.

VIR