Germany’s Quickpack is to invest €30 million ($31.8 million) in expanding its packaging manufacturing factory in the Mekong Delta’s Long An province, the largest such facility in Southeast Asia.

Quickpack and the Dong Tam Group signed an MoU on November 18 in Germany on the development of the factory at the Southeast Asia Industrial Park in the province’s Can Giuoc district.

Under the agreement, QuickPack will lease 60,000 sq m of land to expand its facility.

Construction is scheduled to begin in 2025, with products to be exported to Europe, North America, and Australia.

Speaking at the signing ceremony, Mr. Joerg Schwaderer, QuickPack Group Chairman, said the group has increased its export volume from over 50 TEUs to 2,000 TEUs since entering Vietnam in 2017. The expansion of the facility will help double the group’s capacity in the country.

In the first ten months of this year, Long An province attracted 95 FDI projects with registered capital of over $650 million, bringing its total number of FDI projects to 1,366 and capital to more than $12.5 billion.

The province is ranked among the top 10 localities in FDI attraction.

Source: VnEconomy