Việt Nam welcomes expansion plans by Chinese groups Texhong, TCL

Việt Nam welcomes expansion plans by Chinese groups Texhong, TCL

Permanent Deputy PM Phạm Gia Túc welcomed Chinese investment plans, urging Texhong and TCL to pursue greener, higher-tech and more sustainable operations.

Permanent Deputy Prime Minister Phạm Gia Túc (right) meets with Texhong Chairman Hong Tianzhu. — Photo baochinhphu.vn

Permanent Deputy Prime Minister Phạm Gia Túc said Việt Nam welcomes plans by Chinese groups to expand investment in the country, urging focus on pursuing greener, higher-tech and more sustainable operations while meeting separately with business leaders from Texhong and TCL in Hà Nội on Wednesday.

Meeting Texhong Chairman Hong Tianzhu, Deputy PM Túc praised the group’s 20 years of investment and operations in Việt Nam, saying it has contributed to the development of the textile and garment industry, exports, job creation, workforce training and the gradual formation of domestic supply chains.

He also welcomed Texhong’s plans to expand its investment and business in Việt Nam and to upgrade its operations towards higher technology, greener production and greater digitalisation, which is in line with Việt Nam’s efforts to improve the quality of foreign investment, promote the green and digital transitions and develop next-generation industrial parks.

The Deputy PM said Việt Nam is accelerating its green transition and developing clean energy sources with an aim to ensure adequate energy supplies for production and business.

The country is also stepping up logistics development through coordinated and efficient solutions to help reduce production costs for businesses, he added.

Deputy PM Túc emphasised that the Government is committed to supporting Chinese investors, including Texhong, and creating favourable conditions for them to operate efficiently, sustainably and for the long term in Việt Nam.

Texhong, founded in 1997, is one of China’s three leading textile and garment companies and the world’s largest supplier of core-spun yarn.

Texhong began investing in Việt Nam in 2006 and is the country’s largest yarn producer, accounting for about 25 per cent of total yarn output. It was also among the first investors to develop a textile-focused industrial park in Quảng Ninh.

Over two decades in Việt Nam, Texhong has invested more than US$1.8 billion in 16 projects in the former Đồng Nai province and Quảng Ninh, including a globally competitive textile and garment production chain at the Texhong Hải Hà Industrial Park in Quảng Ninh.

Permanent Deputy Prime Minister Phạm Gia Túc (right) meets with Texhong Chairman Hong Tianzhu. — Photo baochinhphu.vn

At a separate meeting with TCL CEO Wang Cheng, Deputy PM Túc praised the group’s product designs and quality, as well as its long-term investment in Việt Nam since 1999, highlighting TCL’s contributions to the electronics industry, exports, job creation, workforce training and the gradual formation of supply chains.

Túc said the Vietnamese Government welcomes and will create favourable condition for TCL to continue long-term, efficient and sustainable investment in the country.

TCL was founded in 1981 and is a major Chinese multinational specialising in components, equipment and electronic products, including displays, semiconductor materials, new-energy photovoltaic products and smart devices.

TCL now operates four manufacturing facilities in the former Bình Dương province and Quảng Ninh with a total investment in Việt Nam at $310 million. Around $280 billion investment is expected to be added by 2027. TCL’s revenue in Việt Nam reached $1.39 billion in 2025, up 14 per cent, with more than 11,000 employees. 

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