$1.5 Billion Chinese Power Giant to Build 5 New Plants in Vietnam

According to the Bac Ninh Province’s Electronic Information Portal, on the afternoon of September 23, Vice Chairman of the Provincial People’s Committee Pham Van Thinh received and held a working session with leaders of Shemar Power Company (Jiangsu Province, China). Representatives from relevant departments and agencies also attended the meeting.

During the session, Mr. Ma Bin, Chairman of Shemar Power’s Board of Directors, shared that the company was established in 1996, with its headquarters in Jiangsu Province, China. Specializing in high technology, Shemar Power focuses on R&D and manufacturing of electrical products using advanced materials.

Currently, Shemar Power boasts a market scale of $1.5 billion and is recognized as a global leader in outdoor insulation using new materials. The company has contributed to the development of 49 international IEC/IEEE standards. Its products are utilized in over 100 countries, serving leading power grid companies and electrical equipment manufacturers worldwide.

Mr. Ma Bin outlined Shemar Power’s two-phase investment plan in Vietnam. In Phase 1 (2025–2030), the company plans to build two factories covering approximately 28 hectares, with a total investment of around $90 million. In Phase 2 (2027–2033), three additional factories spanning 42 hectares are planned, with an investment of approximately $100 million.

The Chairman expressed his hope for Bac Ninh’s support in selecting investment locations, implementing tax and land incentives, and providing guidance on investment and business procedures within the province.

Vice Chairman Pham Van Thinh expressed his delight in welcoming Mr. Ma Bin and the Shemar Power delegation to explore investment opportunities. He emphasized that Bac Ninh always welcomes and provides optimal conditions for foreign investors to explore, cooperate, and develop.

Mr. Thinh highlighted that the province currently has 33 established industrial zones covering 10,171 hectares and 93 industrial clusters spanning 3,497 hectares. The participation of major corporations in modern technology and large-scale production has transformed the province’s industrial product structure.

Additionally, Bac Ninh’s strategic location, integrated infrastructure, and open investment environment make it an attractive destination. Notably, the province recently commenced construction of the Gia Binh International Airport, covering nearly 2,000 hectares. This 4E-class airport is expected to be completed by December 31, 2026, and will rank among the world’s top 10 modern airports.

Furthermore, two railway lines connecting Vietnam and China passing through the province will position Bac Ninh as an ideal destination for international businesses.

Mr. Pham Van Thinh stressed that the province will create the most favorable conditions for economic groups to invest and operate sustainably, contributing positively to local socio-economic development. He directed relevant departments and agencies to coordinate effectively to maximize the partnership’s success.