Chinese tech firm Tenfy eyes new investment in Tây Ninh

Chinese tech firm Tenfy eyes new investment in Tây Ninh

Tây Ninh ranked fourth nationwide in foreign direct investment attraction in the first half of this year, approving 70 new foreign-invested projects worth nearly $340 million and allowing 69 existing projects to increase their registered capital by more than $1.9 billion.

Chairman of Tây Ninh People's Committee Lê Văn Hẳn (right) meets TenFy Group Chairman Mei Xianming on Wednesday. — VNA/VNS Photo

Southern Tây Ninh Province is emerging as a destination for high-tech manufacturers as global supply chains continue to shift, with China's Tenfy Group planning to expand its investment in Việt Nam.

The group's chairman Mei Xianming unveiled the plan during a meeting with Tây Ninh People's Committee Chairman Lê Văn Hẳn on Wednesday, when the two sides discussed the group's operations in the province and future investment plans.

According to Mei, Tenfy is considering relocating its manufacturing activities from Singapore to Việt Nam and is seeking a suitable site in the former Long An area, now part of Tây Ninh Province, for a new investment project.

The company also expressed hope that local authorities would continue supporting site selection, investment procedures and production expansion.

Founded in 1997 in China's Jiangsu Province, Tenfy specialises in new materials, smart manufacturing, smart fashion technology, sleep technology and digital healthcare.

Tenfy's Vietnamese subsidiary is currently developing a smart apparel and wearable technology manufacturing plant at the TMTC Industrial Park in the Mộc Bài Border Gate Economic Zone.

The project is being carried out in two phases, with the first phase involving an investment of US$35 million already operational. A second phase, worth an additional $60 million, is planned to expand production capacity and introduce more advanced manufacturing technologies.

Hẳn said Tenfy's focus on innovation and smart manufacturing aligns with Tây Ninh's strategy of attracting high-quality foreign investment.

Following the recent administrative merger, the province offers expanded industrial land, improving transport infrastructure and strategic connectivity between the southeast and Mekong Delta regions, he said.

Tây Ninh ranked fourth nationwide in foreign direct investment attraction in the first half of this year, approving 70 new foreign-invested projects worth nearly $340 million and allowing 69 existing projects to increase their registered capital by more than $1.9 billion.

The province is now home to 2,051 foreign-invested projects with combined registered capital of $27.6 billion.

Hẳn reaffirmed the province's commitment to improving the investment climate and supporting investors, while encouraging Tenfy to further expand its high-tech manufacturing and research activities in Tây Ninh. 

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