Introduction

Zeng Hsing Industrial Co., Ltd., a Taiwanese enterprise, has been a prominent player in the production of sewing machines, overlock machines, various metal and plastic components for industrial and civil use; designing, manufacturing, manufacturing and processing of various molds. With manufacturing facilities in Taiwan, China, and Vietnam, Zeng Hsing has continually expanded its operations to meet global demand.

Company Profile

Zeng Hsing Industrial commenced operations in Vietnam in 2004, investing significantly in production infrastructure. By 2012, the company had invested an additional 5 million USD to expand production, bringing its total capacity to over 4.5 million sets of sewing machines per year. This expansion underscores Zeng Hsing's commitment to growth and innovation in the Vietnamese market.

Project Background

The decision to establish operations at VSIP Binh Duong was driven by several key factors. VSIP is renowned for its well-planned and modern industrial park, featuring fully built electricity, water, transportation, wastewater treatment, and telecommunications systems. These facilities meet the stringent requirements of foreign direct investment (FDI) companies. Additionally, VSIP's "industrial park – urban – service" model, associated with green and sustainable development, aligns with Zeng Hsing's long-term orientation.

Business Objectives and Industrial Space Selection Criteria

Zeng Hsing's selection criteria for an industrial space included full and stable technical infrastructure, strategic geographical location, abundant and skilled human resources, reasonable investment costs, and quick, friendly support from local authorities for administrative procedures. The company's commitment to sustainable development and ensuring long-term infrastructure were also pivotal in their decision.

Beyond location and infrastructure, VSIP's prestige and brand, as a collaborative project between the governments of Vietnam and Singapore, provided a safe, transparent, and efficient investment environment. The park's future scalability and compliance with international environmental and safety standards further influenced Zeng Hsing's choice.

Benefits and Outcomes

Since establishing operations at VSIP, Zeng Hsing has benefited from saving time and initial investment costs, access to high-quality labour, and support from a sustainable investment environment. The favourable living and working environment, along with administrative support and investment incentives, have been instrumental in the company's success.

A notable highlight was the seamless collaboration during the factory construction phase. When faced with a technical obstacle in medium voltage electricity during the line installation stage, VSIP coordinated with local electricity providers to resolve the issue within 48 hours, ensuring the plant kept up with its trial run. This incident exemplifies VSIP's role as a true solution-oriented partner.

Future Plans

Zeng Hsing plans to continue expanding its production scale at VSIP II-A and strengthen cooperation with local suppliers to optimize the supply chain and reduce production costs. The company is committed to implementing environmental management systems such as ISO 14001, ISO 45001, and ISO 50001 to minimize environmental impact. Additionally, Zeng Hsing focuses on efficient energy use, waste reduction, and employee training and development to create a positive and creative work environment.

Conclusion

Zeng Hsing Industrial Co., Ltd. values its partnership with VSIP, which has provided comprehensive support from international standard infrastructure to agile administrative services. The stability, transparency, and commitment to sustainable development from VSIP have enabled Zeng Hsing to focus on its core goals: high-quality production, long-term growth, and positive contribution to the local community.

Shanghai, China, March 27, 2025 – VSIP Group has launched an investment promotion seminar for South Korean investors in Shanghai, China. This event was organized by VSIP in collaboration with the Kocham Shanghai Association and Blueye Asia Group.

During the seminar, representatives from VSIP, the President of Kocham Shanghai, and the President of Blueye Asia Group signed a Memorandum of Understanding (MOU), showcasing their joint commitment to enhancing cooperation, developing, and implementing future investment promotion programs and events. The main goal is to attract the attention of South Korean companies operating in China and encourage and support the process of shifting investments to the Vietnamese market.

In addition to the seminar, the VSIP delegation held a series of bilateral meetings and exchanges with many key partners, including the Kotra Shanghai Association, Shinhan Bank Shanghai Branch, and representatives from various regional offices of South Korea, such as Gyeongbok Province, Chung Jeong Nam, Jeonnam, Daegu City, and Jeju. These meetings focused on gathering detailed information about the needs and interests of South Korean investors, as well as outlining potential collaboration opportunities, paving the way for the expansion of their businesses in Vietnam.

The investment promotion activities in Shanghai are a strategic move by VSIP to enhance its presence and attract high-quality capital from South Korea in China, contributing to the sustainable economic development of Vietnam.

“The seminar is being held amid a strong increase in investment flows from China to Vietnam, along with impressive bilateral trade figures. Vietnam stands out as a highly promising destination due to its outstanding advantages in geography, a young population, an open policy, and a wide network of FTAs, especially in the context of the global supply chain restructuring. The Vietnamese government is also making continuous efforts to improve the investment environment and promote the development of industrial park infrastructure.”

Suzhou, March 26, 2025 – The Suzhou-Vietnam Investment Promotion Seminar, jointly organized by VSIP, the China Construction Bank (CCB) Ho Chi Minh City Branch, and the CCB Suzhou-Jiangsu Branch, was successfully held.

The seminar took place amid a significant increase in investment flows from China to Vietnam, alongside impressive bilateral trade figures. Vietnam has emerged as an attractive investment destination due to its strategic location, youthful population, open policies, and extensive network of Free Trade Agreements (FTAs), particularly in the context of the global supply chain restructuring. The Vietnamese government is also actively improving the investment environment and developing industrial park infrastructure.

During the seminar, the General Director of China Construction Bank, Ho Chi Minh City Branch, introduced the "Cross-Border Link" financial solution package, demonstrating a deep understanding and commitment to supporting Suzhou businesses in expanding globally, with VSIP being a key partner. VSIP was highlighted as a model for modern industrial parks, pioneering the "one-stop" service model that reduces operational costs for businesses. The co-organization of the event by VSIP further solidified the park’s position and reputation in attracting foreign investment, particularly from China. VSIP not only provides high-quality infrastructure but also creates an ideal ecosystem for investors.

Additionally, the seminar featured insightful contributions from reputable organizations such as The China Export & Credit Insurance Corp. (Jiangsu), the Suzhou Private Enterprise Integrated Financial Services Center, Deloitte Vietnam, and BW Industrial Development JSC. The valuable insights shared by the experts provided a comprehensive understanding of the dynamic investment environment in Vietnam, along with current investment support policies and incentives.