Buenos Aires (VNA) – Infobae, a leading newspaper in Argentina, has highlighted Vietnam's growing appeal as a destination for foreign investment, particularly in high-tech industries and high-value-added manufacturing.
The newspaper reported on August 4 that the Republic of Korea's LG group has expanded its advanced materials production in Vietnam by launching a new production line in the northern port city of Hai Phong.
The new facility will manufacture antibacterial and antifungal materials to meet rising demand from the consumer, healthcare and industrial sectors. With an annual production capacity of 2,000 tonnes, the Hai Phong plant raises LG's global production capacity for advanced materials to 6,500 tonnes per year.
The newspaper said LG's decision to expand production in Vietnam reflects the country's growing attractiveness to multinational corporations seeking new investment destinations as global supply chains continue to diversify and restructure.
From Vietnam, LG will supply products to major markets, including Europe, North America, China, India and Southeast Asia.
The plant will produce PuroTec materials, which offer antibacterial and antifungal properties for use in household appliances, hospital coatings, hygiene products, food packaging and medical equipment.
It will also manufacture Easy-Clean Enamel coatings for ovens and microwave ovens, helping reduce grease build-up while improving product durability.
According to Infobae, the expansion in Vietnam forms part of LG's strategy to strengthen its advanced materials business to meet growing global demand for public health, food safety and sustainable development solutions./.
VNA
