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Chinese firm to pour US$2.5 billion into Thai Nguyen

The Saigon Times

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HCMC – China’s Sunny Group is planning to invest US$2.5 billion in an industrial project in the northern province of Thai Nguyen.

At the Vietnamese Government’s Office on March 8, Thai Nguyen Province and Sunny Group signed a memorandum of understanding to develop an industrial center at the Yen Binh industrial park in Pho Yen District under the witness of Deputy Prime Minister Tran Luu Quang.

The project is expected to attract 15,000 workers and generate US$5 billion in revenue each year, the local media reported.

In Vietnam, Sunny Group has been developing four projects, with total registered capital of US$130 million, at industrial parks in Thai Nguyen, Vinh Phuc and Hanoi City to produce infrared cameras for autos, phone camera modules and surveillance cameras.

Speaking at the event, Deputy PM Quang said that Thai Nguyen has potential for hi-tech development, so he expected Sunny to call on other hi-tech enterprises to tap the province.

The deputy prime minister also told the firm to create conditions for Vietnamese companies to supply supporting components, helping Vietnam’s industry thrive.

Besides, the Government representative suggested Sunny Group should weigh on investing in a research and development center to facilitate its operation and make it easier for Vietnam to access new technology.

Founded in 1984, Sunny Group specializes in designing, researching and manufacturing optical parts and products.

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