Hoa Lac Hi-Tech Park to host $30 million advanced materials facility
Hanoi continues to attract high-tech manufacturing investment, with a new facility at the Hoa Lac Hi-Tech Park targeting advanced materials and next-generation energy technologies to strengthen Vietnam’s role in global value chains and support innovation-driven growth.
THE HANOI TIMES — Construction officially began on the VND743 billion (US$30 million) Bass Materials Research and Manufacturing Center at High-Tech Industrial Zone No.1 of the Hoa Lac Hi-Tech Park.
Groundbreaking ceremony for the Bass Materials Research and Manufacturing Center. Photo: Hanoimoi Newspaper
The project is expected to become a key hub for research, testing and application of advanced materials, supporting Vietnam’s deeper integration into global value chains for emerging high-tech industries.
Spanning a total floor area of approximately 30,000 square meters, the facility will be developed in two phases.
The first phase is scheduled for completion in the fourth quarter of 2026, including the construction of Factory No.1, the installation of machinery and equipment and final inspections ahead of operations. The second phase will see the completion of Factory No.2, along with equipment installation and commissioning, by the fourth quarter of 2028.
Once fully operational, the center is expected to create around 460 jobs.
At the groundbreaking ceremony on January 8, Park Taeho, Chairman of Bass Vietnam Co Ltd, said the project marks a new step in the company’s long-term investment strategy in Vietnam.
He described Hoa Lac as more than a traditional industrial park, calling it a forward-looking innovation space where science, technology and creativity converge.
Park said Bass chose the Hoa Lac Hi-Tech Park because of its strong development potential and Vietnam’s broader economic outlook.
The investment will establish a modern production facility specializing in advanced materials, including color-converting LED materials, phosphor plates and solid-state electrolyte materials for all-solid-state batteries.
Le Thanh Son, Deputy Head of the Hanoi Hi-Tech and Industrial Parks Management Board, said the project focuses on research and manufacturing of color-conversion materials for solid-state lighting using high-efficiency LED chips, along with materials for all-solid-state batteries.
Although these technologies remain relatively new in Vietnam, he said they show strong application potential and match growing demand for high-performance, energy-efficient materials across manufacturing and consumer sectors.
Son added that attracting projects like the Bass Materials Research and Manufacturing Center reflects Hoa Lac Hi-Tech Park’s strategy of drawing investment into advanced and cutting-edge technology fields.
