The plans were presented by Texhong chairman Hong Tianzhu and TCL CEO Wang Cheng during their talks with Vietnam's Standing Deputy Prime Minister Pham Gia Tuc in Hanoi on Wednesday.

During his meeting with the government official, Hong Tianzhu said Texhong is accelerating its shift toward greener production in Vietnam, a move that is increasingly important for its exports to the European and U.S. markets as environmental standards tighten.

As an energy-intensive manufacturer, Texhong expects the Vietnamese government to help gain access to renewable and clean energy sources for its production facilities, he said.

Tuc, for his part, welcomed Texhong’s plans to expand its operations and upgrade its Vietnamese business toward higher technology, greener production, and greater digitalization. Such investment aligns with Vietnam’s efforts to improve the quality of foreign direct investment and develop next-generation industrial parks, the official said.

He stressed that Vietnam is pushing the development of clean energy and would ensure adequate power supplies for Texhong and other businesses. The government was also stepping up investment in logistics infrastructure and services to help reduce companies’ production costs, he noted.

Founded in 1997 and headquartered in Shanghai, Texhong manufactures and sells high-value textile and fashion products. The group has become one of China’s three largest textile companies and the world’s largest supplier of elastic-covered yarn.

Texhong began investing in Vietnam in 2006 and has invested more than $1.8 billion in 16 projects over the past two decades. It is the largest yarn producer in Vietnam, accounting for about 25% of the country’s total yarn output.

At a separate meeting with Tuc, TCL CEO Wang Cheng called for continued support from the Vietnamese government to expand investment in the country, particularly in high-tech projects and audio-visual electronics. The firm also sought support in electronics manpower training.

TCL is also willing to invite its business partners to explore investment and cooperation opportunities in Vietnam, Wang Cheng affirmed.

Tuc, in reply, said Vietnam welcomed TCL’s plans to expand long-term investment and urged the company to work with relevant authorities to address any difficulties or proposals arising during its operations.

The Vietnamese leader praised the quality and design of TCL products and the company’s long-term investment in Vietnam since 1999.

Founded in 1981, TCL is a major Chinese multinational focused on components, displays, semiconductor materials, new-energy photovoltaic products, and smart devices. Entering Vietnam in 1999, the group now has four manufacturing facilities in Vietnam, with a total investment of $310 million. The figure is expected to rise to $590 million by 2027.

Its Vietnamese operations include production of panel and LCD display modules. TCL generated $1.39 billion in revenue in Vietnam in 2025, up 14% year-on-year, and employs more than 11,000 workers.