Apple supplier BOE begins building $275 mln project in southern Vietnam
BOE Technology Group, a Chinese electronic components producer, kicked off the construction of a $275 million project in Vietnam’s southern coastal province of Ba Ria-Vung Tau on Thursday.
The project, named BOE Vietnam Smart Terminal Phase II, will manufacture and assemble televisions, high-definition displays, electronic components, and plastic parts, totaling 134.7 million items a year. With the project, BOE, a Samsung and Apple supplier, plans to employ 4,000 people and gain a yearly revenue of $1 billion.
Ba Ria-Vung Tau chairman Nguyen Van Tho (fifth, right) at the groundbreaking ceremony of the BOE project in Ba Ria-Vung Tau province, southern Vietnam, April 18, 2024. Photo courtesy of Ba Ria-Vung Tau newspaper.
Speaking at the ceremony, Ba Ria-Vung Tau Chairman Nguyen Van Tho said the project’s quick progress from filing investment documents to initiating construction is a display of the provincial authorities’ efforts to improve the business environment.
The BOE project was the first foreign direct investment (FDI) project approved in Ba Ria-Vung Tau province in 2024. The project is set to cover nearly 30 hectares at Phu My 3 specialized industrial park and begin official operation in 2026.
Ba Ria-Vung Tau investment is BOE’s second project in Vietnam. The first one, operating in Nhon Trach 2 Industrial Park of Dong Nai province, southern Vietnam, has an annual capacity of three million televisions and four million television displays.
Vietnam attracted FDI with registered capital of $6.17 billion in the first three months of this year, according to the Ministry of Planning and Investment. Ba Ria-Vung Tau province ranked seventh with $348.8 million.
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