Major builder Viglacera's industrial park welcomes $210 mln investment from China
Viglacera, Vietnam's leading building material producer and industrial real estate developer, has welcomed investments of $210 million from four Chinese businesses into its industrial parks.
Vietnam Electrical Equipment JSC (Gelex), the biggest stakeholder at Viglacera, announced the information on Thursday. Viglacera signed agreements on the move at an investment promotion conference, hosted last weekend by Bac Ninh province authorities in Shanghai, China, according to Gelex.
The investments will go into Yen Phong II-C Industrial Park, invested by Viglacera and located in Bac Ninh, northern Vietnam.
Executives of Viglacera and Chinese partners sign agreements in Shanghai, China, May 13, 2024. Photo courtesy of Viglacera.
Micro Commercial Components Vietnam, under China’s Yangjie Technology, will invest $90 million in an eight-hectare facility. The semiconductor business will produce items for Huawei, BYD, Philips, and Sony.
Cayi Technology Vietnam, under China’s Cayi Technology, will invest $40 million in a seven-hectare factory, also its first overseas project. The firm will manufacture hot water bottles for Stanley 13, Takeya, and Starbucks.
Viglacera also signed agreements with two firms for manufacturing and assembling of electronic components, with investments of $80 million.
Viglacera, operator of 13 industrial parks in Vietnam and one in Cuba, has so far attracted investments of $18 billion from foreign businesses, including $3 billion from 70 Chinese ones. Notable names in Viglacera’s industrial parks are BYD, Qisda, Texhong, Kanglongda, Foxconn, Risuntek, Nam Liong, BBID, Samsung, Amkor, Hyosung, and Canon.
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