AQUA Vietnam extends factory operations to 2045 with fresh $59mn investment

The move underscores the long-term commitment of its Singapore-based parent, an investment arm of China’s Haier Group, a home appliance manufacturer, to expanding production and market presence in Vietnam.

Under the plan, AQUA Vietnam will extend the operation of its three factories at Bien Hoa 2 Industrial Park in southern Dong Nai Province through 2045.

Marking the company’s 30th year in the Vietnamese market, the expansion will be funded by additional capital of nearly VND1.54 trillion, equivalent to around $59.4 million.

With the new funding, AQUA Vietnam said it will raise the combined capacity of its three factories to nearly 1.6 million products per year, comprising its two core product lines, washing machines and refrigerators, each with an annual output of about 800,000 units.

The expanded capacity is expected to support rising domestic demand and exports to markets worldwide, including Asia and Europe.

“The decision to extend our investment to 2045 is not only a business move but also reflects AQUA Vietnam’s long-term commitment to the Vietnamese market,” said Fan Guofeng, general director of AQUA Vietnam.

Beyond manufacturing, AQUA Vietnam will continue to operate its research and development unit in the country, focusing on developing product features tailored to local usage conditions, consumer habits, and domestic demand.

From a market standpoint, AQUA Vietnam is among the largest foreign-invested enterprises in Vietnam’s home appliance sector, holding the leading nationwide market share in both washing machines and refrigerators by the end of 2025.

Raising localization levels is another key pillar of the company’s long-term strategy.

According to company representatives, the current localization rate at AQUA’s factories stands at around 60 percent.

Over the longer term, the company aims to fully localize production, with an initial target of increasing the rate to 75 percent.

To support this objective, AQUA Vietnam is strengthening its supply chain by encouraging existing Chinese partners to establish manufacturing and supply operations in Vietnam, while promoting greater participation by local suppliers, particularly in the production of core components for home appliances.