China's Deli Group Limited Company is set to break ground on a new stationery factory in Hai Duong province, on September 28.

The $270 million project is the largest foreign direct investment (FDI) in an industrial park in the northern province to date.

The Deli Hai Duong Stationery Factory will produce a wide range of paper and plastic stationery products, as well as plastic household goods. The factory is expected to produce over 185 million units annually.

The project covers an area of approximately 212,480 sq.m and has a total investment capital estimated at over VND6.49 trillion ($270 million). The factory is expected to be operational for 50 years and will employ about 3,000 workers annually. It is projected to generate annual revenue of approximately $5 million.

In the first eight months of 2024, Hai Duong province granted new investment licenses to 46 FDI projects with a total registered capital of $205.5 million. These projects are primarily located in the expanded Dai An, Phuc Dien, and An Phat 1 industrial parks and focus on energy, processing, manufacturing, and stationery sectors.

As of August 2024, Hai Duong had 577 valid FDI projects with a total registered capital of nearly $10.6 billion from 27 countries and territories. The province aims to attract $500 million in FDI and $850 million in implemented capital in 2024.