Chinese electronics materials maker to build $50 mln factory in northern Vietnam
Guangdong SQ New Material Co., a Chinese manufacturer of materials used in the electronics industry, is exploring opportunities to build a $50 million plant in Bac Ninh province.
Tony Ren, chairman of the firm, revealed the plan at a Monday meeting with Nguyen Quang Hoang, director of the Bac Ninh Center for Investment and Development of Industrial Zones.
Nguyen Quang Hoang (second, left), director of the Bac Ninh Center for Investment and Development of Industrial Zones, meets wity Tony Ren, chairman of Guangdong SQ New Material Co., Bac Ninh, March 25, 2024. Photo courtesy of the Bac Ninh Industrial Zone Authority.
Established in 2011, Guangdong SQ New Material Co. specializes in providing thermal conductive materials, thermal interfaces and graphite heat pipes, magnetic absorbent materials as well as nanocrystalline magnetic materials.
Notably, it produces waterproof nano protective coating materials used in consumer electronics devices, new energy automobiles, communications equipment and semiconductors. Its products are widely used in China and several other markets.
The firm boasts a market value of nearly $5 billion.
Companies from Greater China, comprising mainland China, Hong Kong, Taiwan and Macau, are increasingly favoring Vietnam’s northern region to set up production facilities, given geographical proximity and an ongoing supply chain shift.
Northern Vietnam localities, particularly Bac Ninh, Bac Giang, Hai Phong, Quang Ninh and Ha Nam, have prepared well-connected industrial parks to accommodate foreign direct investment in several fields.
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