(Yicai Global) Nov. 15 -- Chinese vacuum cleaner maker Kingclean Electric will invest USD20 million in the construction of a production base for home appliances in Vietnam through a wholly-owned unit as part of efforts to grow its presence overseas.
Kingclean Electric Green Technology, the firm's Suzhou-based wholly-owned unit, will invest in the factory in Dong Nai province, the firm said in a statement.
Following the China-US trade friction and the rising domestic labor costs, many Chinese manufacturers have recently announced plans to invest in facilities in Vietnam.
The plant will produce cleaning and kitchen appliances as well as other small-sized home appliances.
Jiangsu-based Kingclean makes vacuum cleaners, air purifiers, water purifiers and other household electric products.