China’s Luxshare-ICT to invest $209 mln more in central Vietnam
China’s Luxshare-ICT, a supplier of Apple, will invest an additional $208.5 million in Vietnam’s central province of Nghe An, according to a recent project report.
The firm received the first investment registration certificate for the project, named Luxshare-ICT (Nghe An) 2, in October 2022.
It then received another, the third adjustment, in late November to raise the investment from $150 million to $358.5 million.
The project will cover 40.6 hectares in VSIP Nghe An, an industrial park per the Vietnam-Singapore Industrial Park (VSIP) model.
Luxshare-ICT facility in Nghe An province, central Vietnam. Photo courtesy of Nghe An newspaper.
According to the latest license, the project has an annual capacity of 74 million electronic components, 12 million earbud boxes, 12 million earbuds, 400,000 home cleaning devices, 1.9 million cameras and wi-fi routers, 6.2 million watches, and 2.1 million computers and cables. Notably, the project includes houses to accommodate 12,474 workers.
Overall, the project has 360 production lines and an annual output of 108.8 million items. It is set to employ 25,000 people, including 22,500 manufacturing workers.
The project has four phases. The first phase began construction in December 2023, installed equipment in June 2024, entered trial production from November 2024, and is set to soon enter official production.
The second, third, and fourth phases are set to reach official operation from September 2025, June 2026, and June 2026, respectively.
Luxshare-ICT started investing in Nghe An in June 2019 and prior to the latest investment, it had made seven investments there totaling $898 million.
In addition to Nghe An, Luxshare-ICT has been investing in Vietnam’s northern province of Bac Giang.
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