Lindström, a family-owned textile service company with more than 170 years of history in Finland, marked the beginning of its journey in Vietnam by opening of a new service centre in Dong Nai province on March 20.

Finland Lindström opens first service centre in Vietnam

This represents a significant milestone as Lindström is the first company to introduce a workwear rental solution in the Vietnamese market.

Tallking with VIR at the opening ceremony, Juha Laurio, president and CEO, cited that although the initial centre was relatively small, more investment would be poured in step by step to seize the potential of the Vietnamese market.

“As well as the development we have achieved in the Chinese and Indian markets, we expect the Vietnamese market to grow very quickly. As a pioneering investor in this field and seeing famous global brands and manufacturers who are operating in Vietnam, we see the high potential of the Vietnamese market,” said Laurio.

This centre has the capacity to handle thousands of workwear sets daily. The facility is designed using a modular model, allowing for rapid scaling as market demand grows. The laundering and maintenance processes will adhere to international standards, ensuring that every workwear set meets maximum safety and hygiene conditions before being delivered to businesses.

Workwear rental service reduces upfront investment costs and eliminates the burden of managing laundry, repairs, and replacements. These services are a growing global trend, especially in industries requiring high standards such as manufacturing, food processing, electronics, and chemicals.

The workwear rental service provides a comprehensive solution, including industry-specific workwear design, maintenance and washing, product replacement when necessary, and scheduled delivery to businesses for a weekly rental fee.

Unlike the traditional method of purchasing and managing protective clothing in-house, the rental model helps businesses optimise costs, ensure hygiene and safety, and enhance their professional image. Notably, by extending product lifecycles and committing to 100 per cent textile waste recycling, Lindström minimises environmental impacts.

In addition to focusing on business activities, Lindström is also expanding community initiatives, contributing to building a clean and prosperous community in Vietnam, through a cooperation project with ActionAid Vietnam.

This project aims to improve access to clean water and raise awareness about sanitation and climate change, directly supporting 5,000 children in six schools in Tra Vinh city, an area heavily affected by climate change and saltwater intrusion.

In 2024, Lindström’s turnover reached $562 million with 21 million textile products in circulation globally. The company also achieved a recycling rate of over 70 per cent and holds many prestigious certifications for quality, environmental management, hygiene and safety, and health.

Lindström is a family-owned textiles company, founded in 1848 in Finland. With more than 4,700 employees in 24 countries, the unit serves 88,000 customers in many fields, from manufacturing and healthcare to hotels and restaurants.

Foreign investors are showing growing interest in Vietnam’s logistics sector by developing new facilities to tap into rising demand.

Manufacturers are expanding into Vietnam to complement existing logistics operations, Photo: Shutterstock

In early March, Sembcorp Infra Services, a subsidiary of Sembcorp Development, broke ground on its logistics park in Dinh Vu in the northern port city of Haiphong to support manufacturing demand, growing domestic consumption and e-commerce in the country. It is Sembcorp’s fifth modern ready-built warehouse and factory (RBWF) facility in Haiphong.

Sembcorp Logistics Park Dinh Vu boasts six single-storey blocks and 21 units in total. It will have a total gross floor area of over 90,000 square metres, with the first phase to be completed in the next quarter, and the remaining 80,000sq.m to be completed in 2026.

The project caters to companies large and small in industries like electronics, automotives, and high-tech manufacturing. The RBWFs will offer a quick, cost-effective, asset-light market entry, Sembcorp leaders said.

These facilities will also support the full integration of warehousing and logistics, with features like higher floor loading and clear height, benefiting enterprises and e-commerce players. Meanwhile, bonded warehouses can help export processing enterprises reduce costs, streamline customs, optimise inventory, and improve fulfilment speed, boosting competitiveness.

James Ng, director of Sembcorp Infra Services Dinh Vu, told VIR, “Vietnam’s favourable business environment and infrastructure improvements are driving the country’s status as a key production hub in Southeast Asia. Strategic initiatives to bolster the industrial and e-commerce sectors are driving demand for RBWFs through 2030. These are backed by strong exports and domestic consumption. These trends present opportunities for Sembcorp to serve our tenants by providing high-quality, modern warehouses and factories.”

In late February, South Korea’s Jeil Group also started construction on the Jeil Logistics 1 project in Nam Dinh Vu Industrial Park (IP), Haiphong with an investment capital of $44.5 million. The logistics centre will feature ambient and refrigerated storage facilities, and will also offer container warehouse services and ready-built complexes. Construction is scheduled to be completed in February 2026.

Lim Sang Hoon, director of Jeil Logistics 1 Co., Ltd. said, “Since the beginning, our goal is to find a strategic and convenient location for building warehousing facilities near seaports. Among many options, Nam Dinh Vu IP in Dinh Vu-Cat Hai Economic Zone is the optimal option for us. There are many key factors contributing to this decision, including attractive tax incentives and strong support from local authorities.”

Japan’s Mitsubishi Estate Co., Ltd. is developing two large-scale logistics facilities, Logicross Nam Thuan in Long An province and Logicross Haiphong, to respond to the growing logistic needs of Vietnam. Construction of Logicross Nam Thuan commenced in October 2024 and is expected to be completed in June, while Logicross Haiphong began construction in November 2024 and will be ready this August. The total cost for both projects is estimated at $90 million.

Dan Martin, international business advisor at Dezan Shira & Associates in Hanoi, said that Vietnam’s logistics sector is expanding rapidly, fuelled by manufacturing diversification, surging e-commerce, and an aggressive infrastructure push. Foreign investors were taking note, with many new logistics and warehouse projects concentrated in industrial hubs such as Dong Nai, Bac Ninh, and Haiphong, as well as strategic sites in and around Hanoi and Ho Chi Minh City.

“Investment opportunities in logistics infrastructure remain strong despite global economic uncertainties. Manufacturers are not simply relocating from China but expanding into Vietnam to complement existing operations. This shift is fuelling demand for cold storage, fulfilment centres, and IPs tailored to high-tech manufacturing and cross-border connectivity,” Martin said.

Foreign investment in Vietnam’s logistics sector is expected to remain robust, Martin added, and the government actively encourages international participation, offering tax incentives and land lease exemptions for priority infrastructure projects.

“Public-private partnerships have become an important funding mechanism, enabling global firms to invest in expressways, terminals, and integrated logistics facilities. While Japan, South Korea, and Singapore remain leading investors, western firms are also increasing their presence in toll roads and port infrastructure,” Martin said.

A new governmental decree covering the purchasing of shares in Vietnamese credit institutions by foreign investors has increased the ability of some commercial banks to seek more investment from overseas.

Thanks to Decree No.69/2025/ND-CP, which will come into effect on May 19, banks with mandatory transfers like MB, HDBank, and VPBank can increase their foreign ownership limit to 49 per cent.

According to the previous regulations, the total shareholding of foreign investors in a Vietnamese credit institution was not permitted to exceed 30 per cent of the charter capital.

Meanwhile, four weak banks–CB, Oceanbank, DongA Bank, and GPBank–have been transferred to Vietcombank, MB, HDBank, and VPBank, respectively as part of a restructuring scheme for credit institutions, aimed at addressing shortcomings and strengthening the banking sector in line with government policies.

The change in the foreign ownership limit will open up opportunities for such banks to attract foreign investment, strengthen their financial capacity, and support the restructuring process of weak banks.

In addition, Decree 69 also requires foreign investors who surpass the regulated thresholds to reduce their ownership percentage within six months to comply with the limits.