WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Aug 07, 2023 / 22:55

Electronic components factory to be built in Bac Ninh for $200 million

Through the Chinese company, it is expected that more foreign companies and investors will seek long-term cooperation opportunities in the locality.

Victory Giant Technology (HuiZhou) Co.,Ltd, a China-based company, has chosen the northern province of Bac Ninh to build a US$200 million electronic component factory in VSIP Bac Ninh II.

 Victory Giant Technology selects Bac Ninh for new plant construction. Photo: Victory Giant Technology

The information was released at a meeting last week between Nguyen Anh Tuan, Secretary of the Bac Ninh Provincial Party Committee, and Chen Tao, Chairman of the Board of Victory Giant Technology. Once the factory is operational, its annual sales will reach approximately $1 billion.

Chen Tao, Chairman of the Board of Victory Giant Technology, expressed the company's desire to invest in Bac Ninh Province and said that this is their third visit for an investment survey.

He informed that Victory Giant Technology specializes in research and development, production and sales of high precision printed circuit boards (PCB). It ranks 21st in the world's top 100 PCB companies (Prismark) and 4th in the top 100 domestically-funded companies in China's PCB industry.

At the event, Tuan expressed his hope that more foreign businesses and investors will find long-term cooperation opportunities in the area through the Chinese company.

He urged the company to abide by Vietnamese laws and policies in the process of research, investment, and future operations and to ensure benefits for workers.

The Secretary of the Provincial Party Committee assigned the Board of Directors of VSIP Bac Ninh Urban - Industrial Park to assist the company in learning the procedures and promoting investment in the province.