Japan’s Meiko breaks ground on $500 mln electronic circuit plant in northern Vietnam

Japanese electronics manufacturer Meiko Group on Friday broke ground on a $500 million electronic circuit plant in northern Vietnam, underscoring the country’s growing role in global technology supply chains and advanced manufacturing.

The new facility, known as the Meiko Yen Quang electronic circuit manufacturing plant, is located at Yen Quang Industrial Park in Phu Tho province. It will focus on products serving artificial intelligence and aerospace applications.

Speaking at the groundbreaking ceremony, attended by Deputy Prime Minister Ho Quoc Dung, Meiko vice president Sakate Atsushi said the project reflects the Japanese company’s long-term confidence in Vietnam’s investment environment and growth prospects.

Meiko first entered Vietnam in 2007 and currently operates five manufacturing facilities in the country. The Yen Quang project will become its sixth production base and one of its most strategically important investments.

The plant is expected to generate annual revenue of approximately $530 million once fully operational and create around 2,000 local jobs.

The investment comes as Vietnam intensifies efforts to attract high-tech manufacturing and semiconductor-related projects as part of its broader industrial development strategy.

At the event, Deputy PM Dung said Vietnam aims to become an upper-middle-income economy with a modern industrial base by 2030 and a developed, high-income nation by 2045.

He highlighted the government’s focus on science and technology, innovation, and digital transformation as key drivers of future economic growth, following the adoption of Resolution 57 by the Politburo.

He urged Meiko to accelerate the project progress while ensuring compliance with environmental regulations and adopting advanced manufacturing technologies. Dung also called on the Japanese company to increase localization rates and expand partnerships with Vietnamese suppliers.

Vinh Phuc, Hoa Binh and Phu Tho provinces were merged in July last year to form the new Phu Tho which borders Lao Cai, Ninh Binh, Son La, Thai Nguyen, Thanh Hoa, Tuyen Quang, and Hanoi.