Hai Phong (VNA) - Exquisite Power Vietnam Co., Ltd. has inaugurated its Lithium-Ion and Ni-MH battery production facility in Nam Dinh Vu Industrial Park, the northern port city of Hai Phong.

This project marks a significant milestone for the city's growing industrial landscape.

The factory, with a total investment of 20 million USD, spans 13,650 smq and aims to cater to the increasing global and domestic demand for advanced batteries. Beyond economic benefits, the project is expected to create jobs, enhance income levels, and contribute to social welfare in Hai Phong.

Since receiving its investment registration certificate in July 2023, the project progressed rapidly, showcasing Exquisite Power’s commitment to efficiency and safety.

In Hai Phong city, China is the second-largest investor, with 241 projects totaling 6 billion USD, accounting for 23% of the city’s FDI.

Leading corporations such as Flat, Tongwei, and TP Link have chosen Hai Phong for its robust infrastructure, including modern ports, highways, railways, and international connections via the Mong Cai–Hai Phong expressway and the Kunming–Lao Cai–Hai Phong railway.

The city’s new southern coastal economic zone, designed with green and sustainable principles aligned with ESG and net-zero targets, offers significant incentives to attract foreign investors, particularly from China.

Vincent, General Director of Exquisite Power Vietnam, emphasised the company’s strategy to integrate sustainability into its operations. By optimising upstream and downstream supply chains, the company aims to enhance global production capacity while maintaining a focus on environmental, social, and governance (ESG) standards.

The plant will adhere to sustainable practices, aiming to balance economic performance with green initiatives, aligning with Hai Phong’s vision for industrial green transformation.

Le Trung Kien, Head of Hai Phong’s Economic Zone Management Board, urged Exquisite Power to continue leveraging its achievements by integrating advanced, eco-friendly technologies and actively participating in workforce training and social welfare programmes.

ꦓ This inauguration underscores Hai Phong's position as a prime destination for industrial investment, enhancing Vietnam-China relations as the two nations celebrate the 75th anniversary of diplomatic ties./.