Mr. Yu Zhi Min, Director of Midea Group (China), recently visited Binh Duong to explore investment opportunities. According to Mr. Yu Zhi Min, Midea Group is a leading enterprise in China’s household appliance industry.
Midea specializes in air treatment, refrigeration, laundry, large kitchen and cooking appliances, smart kitchens, and smart building electronics. They also collaborate on providing smart building management systems.
As per their Vietnam website, Midea is headquartered in Guangdong, China, but it is a global company with over 150,000 employees and a presence in more than 195 countries. The enterprise was ranked 253rd in the Fortune Global 500 list of the world’s top corporations.
Midea Vietnam Air Conditioning Factory
The group’s first factory outside of China was established in the Vietnam-Singapore Industrial Park 1, Thuân An City, in 2007. This factory specializes in producing home appliances such as vacuum cleaners, rice cookers, ovens, air conditioners, and refrigerators.
Subsequently, Midea Group constructed a second factory in My Phuoc 3 Industrial Park, Ben Cat Town, Binh Duong. This project expanded their production scale and diversified their product range.
The leader also shared that Midea’s factories in Binh Duong have been operating efficiently and thriving in recent years. In 2024, their revenue grew by over 50% compared to 2023.
Businesses highly appreciate Binh Duong’s well-developed infrastructure and attractive investment policies. Midea considers Vietnam a strategic hub in its global supply chain, especially given the country’s role in assuming many production bases relocated from China. Therefore, the group is keen on exploring opportunities to expand its factory in Binh Duong further.
Inside a Midea factory.
Binh Duong is a province in the Southern Key Economic Region of Vietnam. Its import and export turnover accounts for approximately 10% of the country’s total.
In recent years, Binh Duong has consistently been among the leading provinces in attracting foreign direct investment (FDI). In the first four months of 2025, the province attracted over USD 737 million in foreign investment, a 271% increase compared to the same period in 2024.
Cumulatively, Binh Duong has 4,488 projects with a total registered capital of USD 42.68 billion from 65 countries and territories. China leads with 1,844 projects and a total investment of over USD 11.3 billion.
To facilitate business operations, Binh Duong has invested in completing its transport infrastructure, including roads, highways, railways, and river ports, connecting the region to airports and seaports for cargo transportation.
Alongside existing industrial parks, the province is developing new-generation eco-industrial parks, high-tech parks, specialized parks, and science and technology parks.
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