Giay Thuong Dinh allocates 165 billion VND for factory relocation

Giay Thuong Dinh Joint Stock Company has approved a 165 billion VND budget to facilitate the relocation of its production facilities from Hanoi to the Dong Van Industrial Park in Ninh Binh.

A significant portion of this budget, approximately 25 billion VND, is allocated for severance pay and support for 443 employees affected by the restructuring. These payments are expected to be disbursed in two phases starting in the third quarter of 2026, with individual support amounts based on tenure and social insurance salary levels.

The remaining funds will cover various relocation costs, including nearly 47.8 billion VND for new machinery and equipment, over 43 billion VND for constructing and renovating workshops at the new site, and approximately 13.9 billion VND for technical infrastructure such as electricity and fire prevention systems. The company also estimated nearly 9.9 billion VND for the demolition and site clearance of its current facility on Nguyen Trai Street in Hanoi.