Seldat Vietnam: A Strategic Expansion in the Garment Manufacturing Hub

Seldat Vietnam presents a unique opportunity for investors and operators to capitalize on Vietnam's growing garment manufacturing sector. With three strategically located industrial sites in Binh Dinh Province, the project offers immediate production capacity and long-term scalability.

Garment ManufacturingVietnamSeldat VietnamBinh Dinh ProvinceInvestment OpportunityReal EstateJul 22, 2025

Seldat Vietnam: A Strategic Expansion in the Garment Manufacturing Hub

Real Estate:As global brands diversify their sourcing strategies, Vietnam has emerged as a key manufacturing hub—now second only to China in garment exports. Capitalising on this momentum, Seldat Vietnam is advancing a high-potential investment opportunity through three strategically located industrial sites in Binh Dinh Province. Offering both immediate production capacity and long-term scalability, the project is tailored for investors and operators seeking a foothold in one of Southeast Asia’s most dynamic regions.

In this exclusive conversation with Fibre2Fashion, Gregory Rabitsky, Manager and Director of Real Estate & Construction at DD1 Development LLC Seldat, shares insights into the phased development strategy, infrastructure readiness, partnership flexibility, and the broader geopolitical and supply chain context shaping the initiative. With over 30 years of global real estate and construction experience and multiple billion-dollar projects under his belt, Rabitsky outlines why this dual-site model presents a rare opportunity to generate revenue from day one while building for long-term growth in Vietnam’s rapidly evolving manufacturing landscape.

The project was conceived prior to COVID-19 and the subsequent market disruptions. It was built on a strategy of gradually expanding production capacity. Initially, a smaller, owned factory was successfully established in a region located between Vietnam’s two key urban centres—Hanoi and Ho Chi Minh City. This location benefited from access to a cost-effective, skilled regional labour pool. Following this, a second, larger rented facility was added as a temporary measure to scale up production. It was fully renovated and equipped for traditional garment manufacturing. At the same time, a major development was progressing through the approval stages: a large-scale factory on a 50-year leased land parcel, designed to employ 4,000 garment workers once fully operational. The idea was to use the two smaller facilities to ramp up production while the main facility was under construction, and eventually consolidate operations into the larger site.

Now that markets are returning to relative normality—and with many garment manufacturers relocating from China to Southeast Asia—the project has regained momentum and is positioned for rapid development. For any manufacturer looking to start garment production in Vietnam, Seldat offers an immediate opportunity: two existing, fully equipped facilities in Binh Dinh Province, ready for operations with a combined labour force of up to 570 workers.

All three manufacturing sites are located in close proximity to one another and to major regional transit hubs—making them highly attractive from a logistics and export standpoint. Phu Cat Airport is less than 6 km away, Quy Nhon Seaport is approximately 30 km away, and Quy Nhon Railway Station is just 15 km from the sites. Additionally, the area is connected by National Highway 1A, allowing access to Da Nang City within 300 km by road. Finished goods can be efficiently processed for export in Quy Nhon and shipped overseas via multiple transport options.

The immediate revenue stream from the ‘ready-to-go’ Sites 2 and 3 helps offset the capital investment required to complete the larger facility at Site 1. This dual approach also enables a gradual build-up of the local labour force while allowing for controlled scaling of production, logistics, and product distribution. It offers a balanced pathway to long-term operational stability and growth.

Sites 2 and 3 are fully operational manufacturing facilities, with all equipment—including 570 industrial sewing machines and associated machinery—already in place. A Facility Director/Manager is available to immediately re-engage the local labour force, supported by an on-site accountant and a marketing/salesperson, all based in Binh Dinh. While Seldat Vietnam’s main office is located in Ho Chi Minh City, local operational support is firmly established. Seldat Vietnam is well-positioned to: (a) restart operations at Sites 2 and 3; (b) assist in redesigning Site 1 to align with the new partner’s requirements; and (c) complete and prepare Site 1 for full-scale production. We will collaborate closely with the incoming partner’s team to seamlessly integrate necessary support staff and local expertise as the operation scales.

The new facility at Site 1 was designed as a state-of-the-art garments factory, yet its design remains flexible and can be swiftly adapted to suit the specific requirements of the incoming partner. Over $1.5 million has already been invested, with the most complex and high-risk phase now completed—all footings and foundations are in place. The project can transition from its current state to full operational readiness within 11 months of financing. This development period will not be idle; it provides an ideal window to refine staffing, operations, and logistics at the already functional Sites 2 and 3.

Vietnam compares favourably to most other countries in the developing world. From the local authorities’ willingness to collaborate with developers and investors, to the availability of motivated, skilled labour and professionals, the country offers significant advantages. Wages remain relatively low compared to other regions, and Vietnam benefits from reasonable currency regulations, multiple international trade agreements, transparent legal frameworks, and strong transportation infrastructure. These factors make Binh Dinh a uniquely attractive investment destination. Incoming investor-operators will also benefit from the full support of Seldat Vietnam staff, who are ready to assist with every aspect of company establishment.

We are flexible and open to working with a financial investor, a production operator, or a hybrid of both. Seldat Vietnam is prepared to consider several project development options, including: (a) an outright sale of the project company ‘as is’; (b) sale of a majority share, with Seldat Vietnam completing the new facility and later either selling its remaining equity; or (c) continuing as a production partner in some capacity. Our goal is to collaborate with a partner who shares our vision for scaling operations and creating long-term value.

The region already boasts a substantial base of skilled local labour and professionals, with garments being one of its two primary industries. This existing talent pool provides a strong foundation for scaling operations. The presence of two smaller, operational facilities allows the investor or operator to engage and train the local workforce to their specific standards—well in advance of the completion of the high-growth Site 1. This phased approach ensures a smooth transition and readiness when the main facility becomes fully operational.

While a sublease is likely not a viable option, we are open to exploring all variations of joint ventures or outright acquisition and remain flexible on terms. For Site 1, the projected financial return for the investor is estimated at 39 per cent after the first year of operation, increasing to 45 per cent by the tenth year.

Frequently Asked Questions

What makes Vietnam an attractive destination for garment manufacturing?

Vietnam offers a combination of skilled labour, reasonable wages, strong transportation infrastructure, and favourable trade agreements, making it a highly attractive destination for garment manufacturing.

What are the immediate production capabilities at Seldat Vietnam's sites?

Seldat Vietnam has two existing, fully equipped facilities in Binh Dinh Province, ready for operations with a combined labour force of up to 570 workers.

What is the projected financial return for investors at Site 1?

The projected financial return for investors at Site 1 is estimated at 39 per cent after the first year of operation, increasing to 45 per cent by the tenth year.

How does Seldat Vietnam support the incoming partner during setup or scaling?

Seldat Vietnam offers local operational support, including a Facility Director/Manager, an on-site accountant, and a marketing/salesperson, to help restart operations and scale production smoothly.