China electronics firm DBG inaugurates $80 mln factory in northern Vietnam

DBG Technology Vietnam, under Hong Kong-based DBG Electronics Investment Limited, inaugurated an $80-million factory in the northern province of Thai Nguyen on Wednesday.

Construction of the plant of more than 20 hectares in Yen Binh Industrial Park was kicked off in April 2021. It is set to manufacture and export 30 million products a year, including media equipment, computers and computer peripheral devices, electronics, electronic components, motors, power generators, and others.

The factory, DBG’s biggest facility outside China, is expected to employ 10,000-15,000 workers and reap an export revenue of $4.5 billion a year.

Thai Nguyen, an industrial hub in northern Vietnam, currently has seven industrial parks and one information-technology park covering 2,600 hectares, and 35 industrial clusters covering 1,335 hectares. Thai Nguyen is home to Samsung Electronics Vietnam Thai Nguyen (SEVT) which runs two electronics factories.

Vietnam's industrial production expanded by 0.5% year-on-year in April, but fell 1.8% in the first four months of the year amid weaker global demand, the General Statistics Office (GSO) said. Thai Nguyen province buckled the trend with growth of 4.54% in the four-month period, according to provincial data. This was driven by a 4.56% increase in the manufacturing-processing sector, and 4.59% in electricity production and distribution.

Registered foreign direct investment (FDI) in Thai Nguyen province climbed 12.9% year-on-year to $122.07 million in the first four months of 2023, according to the Ministry of Planning and Investment. The FDI included $107.05 million of newly registered capital, $7 million of additional capital for ongoing projects, and $8.02 million of capital contributions for stake acquisitions.