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Mar 23, 2021 / 21:31

Austria-based AT&S ponders US$1.8-billion hi-tech project in Vietnam

The norther province of Thai Nguyen could meet the firm’s requirements in terms of infrastructure.

Austria-based AT&S is looking at the option of building two manufacturing facilities in Vietnam with a combined investment capital of EUR1.5 billion (US$1.78 billion), specializing in high-end printed circuit boards that serve as core components in fields of industrial production, AI, semiconductors and hi-tech.

 Prime Minister Nguyen Xuan Phuc and Austrian Ambassador to Vietnam Thomas Schuller-Gotzburg. Photo: Quang Hieu

AT&S Chief Operation Officier (COO) Ingolf Schroeder revealed the plan in a meeting with Prime Minister Nguyen Xuan Phuc today [March 23]. Austrian Ambassador to Vietnam Thomas Schuller-Gotzburg also attended the meeting. 

The Austrian firm is confident of building these facilities in a short period of time to meet the growing demands in this field, said Schroeder.

Schroeder expressed his thanks for the support of government agencies during his trip to a number of localities in the search for suitable investment locations, including the northern province of Thai Nguyen and Ho Chi Minh City.

After four months of searching, AT&S chose Southeast Asia as the perfect location given its close proximity to supply sources and distribution networks, said Schroeder.

The firm’s COO said the firm is in the race against time to select a location by mid-April and start the construction in late 2021, expecting it would complete within a year.

If Vietnam is selected as the final destination, Schroeder expected the government to create favorable conditions for the successful implementation of the project.

 Overview of the meeting. Photo: Quang Hieu

According to Schroeder, the project would need at least 1,500 engineers and 6,000 workers, as such, strong support from the government is needed for these facilities to start operation.

On his part, Prime Minister Nguyen Xuan Phuc said the majority of foreign-invested projects in Vietnam have been successful, especially hi-tech ones including Intel and Samsung.

“The Vietnamese government is committed to creating favorable conditions for foreign investors doing businesses in Vietnam,” Phuc noted, adding the country has extraordinary incentive policies for hi-tech projects.

 AT&S plant in Nanjangud, Austria. Photo: AT&S

Phuc highlighted the exsiting infrastructure conditions of Thai Nguyen and Ho Chi Minh City, saying the government is building networks of expressways in these two localities to further attract foreign investment capital.

Phuc expected Thai Nguyen with multiple universities could meet high demands for workforce from investors.

“Given the fact that Vietnam is a regional hub for air transportation, Thai Nguyen is of advantage position for both road and air movements,” Phuc added.

“Vietnam is the best option and also an opportunity for foreign investors,” Phuc stated, expecting the AT&S to soon adopt the final investment decision.

At the meeting, Austrian Ambassador to Vietnam Thomas Schuller-Gotzburg said Vietnam is among the favorite destination for foreign investors, including those from Austria.

He appreciated the Vietnam's socio-economic development in the past years and expressed his trust in AT&A project, which will be suitable with the country's plan on hi-tect investment attraction.