A series of small-scale foreign directinvestment (FDI) projects have been funnelled into Vietnam,contributing to increasing the number of FDI projects operating in thesupport industry, reported Dau tu (Vietnam Investment Review) online.
TheJNTC company from the Republic of Korea (RoK), one of the firmsspecialising in supplying components for Samsung, is consideringinvesting in a project to manufacture optical glass worth 50 million USDin the northern province of Vinh Phuc.
Meanwhile, theRoK’s Vina Anydo Electronics Company has decided to build its factory inthe province which will manufacture and process mobile spare parts andelectronic devices for Samsung.
Built with a total investment of700,000 USD across nearly 2 hectares in the Binh Xuyen industrial parkin Vinh Phuc province, the project is expected to generate annualrevenue of 16.46 million USD and create job for over 250 workers withaverage monthly salaries of 200-300 USD.
In May this year,the People’s Committee of the northern Bac Giang province grantedinvestment licenses to a number of small-scale FDI projects in thesupport industry, including prominent projects such as Wonjin Vina worth10 million USD and Mooroc Printec Vina worth 2 million USD.
TheManagement Board of the Hai Phong Economic Zone has also decided toallow Eujin Winsys Co., Ltd of the RoK to build a plant to produce andassemble electronics with a total investment of 100 million USD.
Allprojects are scheduled to become operational after 6 to 12 months ofconstruction, meeting the increasing demand for spare parts of bigelectronic firms such as Samsung, LG and Microsoft.
Since Samsung, Microsoft and LG invested in Vietnam, great numbers offoreign investors have poured capital into the country, contributing tothe formation of a strong domestic electronics support industry.
Director of the Foreign Investment Agency Do Nhat Hoang told the DauTu that the support industry not only plays a crucial role in boostingnational economic growth and accelerating the country’s globalintegration, but also helps increase the attractiveness of theinvestment climate and creates added value for the country’s economy.-VNA
TheJNTC company from the Republic of Korea (RoK), one of the firmsspecialising in supplying components for Samsung, is consideringinvesting in a project to manufacture optical glass worth 50 million USDin the northern province of Vinh Phuc.
Meanwhile, theRoK’s Vina Anydo Electronics Company has decided to build its factory inthe province which will manufacture and process mobile spare parts andelectronic devices for Samsung.
Built with a total investment of700,000 USD across nearly 2 hectares in the Binh Xuyen industrial parkin Vinh Phuc province, the project is expected to generate annualrevenue of 16.46 million USD and create job for over 250 workers withaverage monthly salaries of 200-300 USD.
In May this year,the People’s Committee of the northern Bac Giang province grantedinvestment licenses to a number of small-scale FDI projects in thesupport industry, including prominent projects such as Wonjin Vina worth10 million USD and Mooroc Printec Vina worth 2 million USD.
TheManagement Board of the Hai Phong Economic Zone has also decided toallow Eujin Winsys Co., Ltd of the RoK to build a plant to produce andassemble electronics with a total investment of 100 million USD.
Allprojects are scheduled to become operational after 6 to 12 months ofconstruction, meeting the increasing demand for spare parts of bigelectronic firms such as Samsung, LG and Microsoft.
Since Samsung, Microsoft and LG invested in Vietnam, great numbers offoreign investors have poured capital into the country, contributing tothe formation of a strong domestic electronics support industry.
Director of the Foreign Investment Agency Do Nhat Hoang told the DauTu that the support industry not only plays a crucial role in boostingnational economic growth and accelerating the country’s globalintegration, but also helps increase the attractiveness of theinvestment climate and creates added value for the country’s economy.-VNA
