Hong Kong firm builds $200 mln electronics plant in central Vietnam

Everwin Precision Hong Kong Co. Ltd. is set to start the construction of its $200 million electronic parts factory in Nghe An on Thursday.

The Everwin Precision Vietnam Technology plant will cover more than 43.2 hectares in the central province’s industrial park VSIP Nghe An. The project is expected to create 15,000 jobs, including 14,000 for domestic workers and 1,000 foreigners, and scheduled to operate until 2065.

It is designed to make 270 million products per annum, and the Hong Kong manufacturer - a supplier of components for Apple, Xiaomi, and Huawei - plans to export all. Its main products will include electronic components and parts, wires and cables, and plastic parts for cars.

Everwin Precision Vietnam Technology Co. director Wong Mannon Man told The Investor that his company was placed in the province as it could offer abundant human resources and full support for foreign investors. Investment procedures are transparent and simplified, he said.

“Especially, we are provided with top incentives like corporate income tax of 10% for 15 years; and income tax exemption for four years from the date there is taxable income, and 50% reduction for the next nine years,” he said.

“We also have plans for production expansion later.”

VSIP Nghe An is developed by Vietnam-Singapore Industrial Park (VSIP) Group, a joint venture between Singapore’s Sembcorp Industries and its Vietnamese long-standing partner Becamex, a major industrial developer in the country.

VSIP on Monday received an investment license to develop its first industrial park in the Mekong Delta, located at a 294-hectare site in Can Tho city. VSIP Can Tho will be its 12th industrial park project in Vietnam.