Luxshare receives environmental license for $190 mln earphone project in northern Vietnam

By Tri Duc
Fri, August 25, 2023 | 5:51 pm GMT+7

Luxshare Van Trung, wholly owned by China’s major electronics producer Luxshare-ICT, has been granted an environmental license for its earphone project in the northern province of Bac Giang.

The certificate, a prerequisite for official operation, has a duration of seven years.

Luxshare Van Trung received an investment certificate for the $180 million project in September 2019. The registered investment capital was then revised up to $190 million.

The 36.1-hectare project has an annual capacity of 20 million components for Bluetooth earphones, smartphones, and electronic device; one million smartwatches; and 35 million Bluetooth loudspeakers. The firm registered to export all of its products.

Luxshare-ICT, a supplier of Apple Inc., has so far invested about $600 million in Vietnam, including $270 million in Bac Giang province and $330 million in the central province of Nghe An.

The other project of Luxshare-ICT in Bac Giang is a 29.1-hectare factory for manufacturing of computer cables and pairing device, Internet equipment, smartwatch, touch pen, lighting device, and others.

In July and August, Luxshare is recruiting 20,000 manual workers in Bac Giang, as part of its plan to expand the workforce to 80,000 people, according to Bac Giang authorities. Notably, Luxshare will offer residential areas without any charge to workers at the facility in Van Trung Industrial Park.

A Luxshare-ICT factory in Bac Giang province, northern Vietnam. Photo courtesy of the firm.

A Luxshare-ICT factory in Bac Giang province, northern Vietnam. Photo courtesy of the firm.

Bac Giang’s index of industrial production (IIP) grew 15.63% year-on-year in the first seven months of this year, according to provincial data. The growth was driven by a 16.11% increase by the manufacturing-processing sector, 1.56% in mining, 7.23% in water supply and waste-wastewater treatment, and others.

Bac Giang attracted foreign direct investment (FDI) of $1.44 billion in the first seven months of this year, the fourth-highest figure in the country, following Hanoi with $2.28 billion, the northern city of Hai Phong with $2 billion, and Ho Chi Minh City with $1.64 billion.

In terms of capital for new projects, Bac Giang province led the country with $1.22 billion, the only one to break the $1-billion milestone.

Comments (0)
  • Read More
Five investors register for $2.2 bln LNG power project in central Vietnam

Five investors register for $2.2 bln LNG power project in central Vietnam

Five investors have applied to join the $2.2 billion Quynh Lap LNG-fired power plant project in Nghe An, according to the provincial Department of Planning and Investment.

Investing - Sat, October 26, 2024 | 4:00 pm GMT+7

Southern Vietnam coastal province promotes fish sauce, chocolate, crafts at HCMC show

Southern Vietnam coastal province promotes fish sauce, chocolate, crafts at HCMC show

Farmers and businesses from Ba Ria-Vung Tau are promoting a range of specialties and OCOP (One Commune One Product) products from the province at an exhibition in Ho Chi Minh City.

Companies - Sat, October 26, 2024 | 2:19 pm GMT+7

Northern Vietnam province Quang Ninh has new Party chief

Northern Vietnam province Quang Ninh has new Party chief

Vu Dai Thang, a Party Central Committee member and Party chief of Quang Binh province in central Vietnam, has been assigned as Party chief of Quang Ninh province for the 2020-2025 term.

Politics - Sat, October 26, 2024 | 1:40 pm GMT+7

Thai-controlled Sabeco to start acquiring 43% stake in brewer Sabibeco next week

Thai-controlled Sabeco to start acquiring 43% stake in brewer Sabibeco next week

Thai Beverage-controlled Sabeco will start its public tender offer to buy an additional 37.81 million shares, or a 43.2% stake, in local brewer Sabibeco on October 31 until December 25.

Companies - Sat, October 26, 2024 | 11:20 am GMT+7

Vietnam mining group Vinacomin appoints new CEO

Vietnam mining group Vinacomin appoints new CEO

Vu Anh Tuan, a board member of state-owned Vietnam Coal and Mineral Industry Group (Vinacomin) has been appointed general director, starting from last Monday.

Companies - Sat, October 26, 2024 | 11:14 am GMT+7

Foreign players net sell $46.4 mln worth of Vietnam equities this week

Foreign players net sell $46.4 mln worth of Vietnam equities this week

Foreign investors continued to net sell on the Vietnamese stock market this week, to the tune of VND1,178 billion ($46.43 million) as the U.S. dollar extended its strengthening.

Finance - Sat, October 26, 2024 | 9:39 am GMT+7

Northern Vietnam province sees five-year registered FDI exceeds target by 181%

Northern Vietnam province sees five-year registered FDI exceeds target by 181%

Quang Ninh province in northern Vietnam expects to attract $10 billion in registered foreign direct investment (FDI) in the 2021-2025 period, local authorities say.

Investing - Sat, October 26, 2024 | 8:00 am GMT+7

Vietnam invites state-owned Chinese giant to join $67 bln high-speed railway project

Vietnam invites state-owned Chinese giant to join $67 bln high-speed railway project

Vietnam’s Commission for the Management of State Capital at Enterprises (CMSC) has invited China State Construction Engineering Corporation (CSCEC) to participate in and "make contributions" to the country’s $67-billion cross-country high-speed railway project.

Infrastructure - Fri, October 25, 2024 | 7:35 pm GMT+7

Vietnam National Assembly Office Chair unexpectedly steps down

Vietnam National Assembly Office Chair unexpectedly steps down

Vietnam’s National Assembly (NA), the country's supreme legislative body, has unexpectedly relieved Bui Van Cuong from the post of its General Secretary.

Politics - Fri, October 25, 2024 | 7:19 pm GMT+7

Vietnamese lender MSB owned 34% by 9 major shareholders holding over 1% stake each

Vietnamese lender MSB owned 34% by 9 major shareholders holding over 1% stake each

A total of 33.69% of Vietnam Maritime Commercial Joint Stock Bank, or MSB, is held by nine institutional shareholders who own an over 1% stake each, according to its updated list of shareholders.

Banking - Fri, October 25, 2024 | 4:24 pm GMT+7

Belarus seeks cooperation with Vietnam in manufacturing automobiles

Belarus seeks cooperation with Vietnam in manufacturing automobiles

Belarus wants to collaborate with Vietnam in manufacturing automobiles for export, President Aleksander Lukashenko said to his Vietnamese counterpart Pham Minh Chinh at a Thursday meeting on the sidelines of the BRICS Summit.

Industries - Fri, October 25, 2024 | 4:08 pm GMT+7

Tran Cam Tu promoted to permanent member of Vietnam Party Central Committee’s Secretariat

Tran Cam Tu promoted to permanent member of Vietnam Party Central Committee’s Secretariat

Tran Cam Tu, a member of the Politburo and the Party Central Committee's Secretariat, was appointed permanent member of the Secretariat by the Politburo on Friday.

Politics - Fri, October 25, 2024 | 3:56 pm GMT+7

SeABank offers comprehensive financial solutions to support import-export businesses

SeABank offers comprehensive financial solutions to support import-export businesses

SeABank has developed a diverse range of flexible financial products to help import-export enterprises optimize cash flow and ensure smooth operations.

Companies - Fri, October 25, 2024 | 3:34 pm GMT+7

SeABank empowers women-owned businesses with exceptional benefits and specialized support

SeABank empowers women-owned businesses with exceptional benefits and specialized support

To support and facilitate the growth of women-owned enterprises, SeABank has introduced a range of exclusive programs and specialized financial products, reinforcing its goal of becoming a trusted financial partner for women-owned businesses in Vietnam.

Companies - Fri, October 25, 2024 | 3:22 pm GMT+7

Singaporean investment fund Makara Capital seeks investment opportunities in Hanoi

Singaporean investment fund Makara Capital seeks investment opportunities in Hanoi

Singapore-based capital firm Makara Capital hopes to put its extensive experience in infrastructure, innovation and energy projects to use in Hanoi, CEO Ali Ijaz Ahmad said on Thursday.

Investing - Fri, October 25, 2024 | 3:13 pm GMT+7

Daughter of Masan Group chairman plans to spend $30-plus mln on MSN shares

Daughter of Masan Group chairman plans to spend $30-plus mln on MSN shares

Nguyen Yen Linh, daughter of Masan Group chairman Nguyen Dang Quang, has plans to spend at least $30 million on acquiring 10 million shares of the group, listed on the Ho Chi Minh Stock Exchange as MSN.

Companies - Fri, October 25, 2024 | 2:55 pm GMT+7