China’s Victory Giant Technology to invest $260 mln in northern Vietnam
Victory Giant Technology, a Chinese electronics major, plans to invest $260 million in a production base in Vietnam’s northern province of Bac Ninh.
In a filing sent to the Shenzhen Stock Exchange last week, Victory Giant Technology said the move aims to meet the diverse needs of overseas customers per international trends and changes in international trade.
Victory Giant Technology (Singapore) PTE. LTD, its Singapore subsidiary, will build a high-precision printed circuit board (PCB) factory in Vietnam, for the manufacturing of high-layer PCB and high-density interconnect (HDI) PCB.
Executives of Victory Giant Technology and VSIP Bac Ninh sign a land lease agreements on March 19, 2024. Photo courtesy of Victory Giant Technology.
The firm will make the investment in the VSIP Bac Ninh II industrial park, the industrial real estate facility that follows the Vietnam-Singapore Industrial Park (VSIP) model.
The investment is subject to approval by relevant authorities of Vietnam and China, Victory Giant Technology affirmed.
The facility will utilize Vietnam’s sound industrial foundations and prime location to serve existing and new customers, the Chinese firm emphasized.
In March, Victory Giant Technology and VSIP Bac Ninh industrial park signed a land lease agreement under which the Chinese firm will lease 10 hectares to implement its project. The move is part of Victory Giant Technology's commitment to invest $800 million in Bac Ninh province.
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