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Monday, June 17, 2024

Taiwan’s tech firm to invest US$1 billion in Vietnam

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HCMC – Taiwanese electronics manufacturing company Pegatron, a partner of world’s major tech firms such as Microsoft, Apple and Sony, is planning to invest US$1 billion to build three hi-tech products plants at the Nam Dinh Vu Industrial Park in the northern city of Haiphong.

The first plant called Pegatron Vietnam 1 would have total investment capital of US$19 million. Pegatron Corporation obtained an investment license for the project from the Management Board of the Haiphong Economic Zone on March 17.

The company is seeking an investment license for the second project worth US$481 million. It would produce electronic devices, computers, communications equipment, electronic components and circuit boards for tech giants including Microsoft, Sony and Apple.

The third project worth US$500 million will be developed in the 2026-2027 period.

Moreover, Pegatron has also planned to move its research and development center from China to Vietnam once the third project is ready.

The three projects are expected to create 22,500 jobs and contribute some VND100 billion (US$4.3 million) to the State budget annually.

Besides Pegatron Corporation, the Ministry of Planning and Investment is collaborating with the investor of the Nam Dinh Vu industrial park to persuade Universal Global Technology Group, a member of leading provider of independent semiconductor manufacturing services ASE Technology Holding, to develop an electronic board manufacturing and assembly plant, according to Tuoi Tre newspaper.

Products from this US$400 million project would be supplied to Sony and Lenovo for the production of smart watches, smartphones and headphones.

The ministry said these hi-tech projects would lay the foundation for Vietnam to attract more investors that are suppliers to the world’s tech giants, helping Haiphong progress into an electronic production hub.

Richard Shi, head of the Taipei Economic and Cultural Office in Hanoi, said at a meeting with representatives of the Ministry of Planning and Investment in late August that a second wave of investment from Taiwanese investors to Vietnam was expected, following the first one in the 1990s.

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