Liteon, a world-leading Taiwanese provider in optoelectronics and power management, has inaugurated the second phase of its manufacturing facility in Hai Phong in a bid to speed up its global diversified operation.
"Liteon is accelerating its global diversified operation sites. In addition to expanding production capacity in the United States, Mexico, Thailand, and Vietnam, we are also looking for new locations to connect various resources with R&D centers and manufacturing bases around the world," Liteon chairman Tom Soong said at the second-phase plant launch on Monday in the northern port city.
Liteon, listed on the Taiwan Stock Exchange as 2301, says the new facility is highly automated, digitalized, and combined with advanced technologies like big data, artificial intelligence, and the Internet of Things, playing a key role in its manufacturing networking and consumer electronics products.
Its products are supplied to global electronics manufacturers like Amazon, Asus, IBM, Fuji Xerox, Kyocera, Lenovo, Motorola, Nokia, Samsung, Sharp, and Sony.
The company adds it is expanding to advanced high-growth areas like cloud computing, optoelectronic semiconductors, automotive electronics, 5G, and Artificial Intelligence of Things.
Liteon Vietnam, the firm’s subsidiary in Vietnam, started building the first-phase plant in 2018 to produce electronics parts. It commenced work on the second phase in July 2021.
According to Hai Phong’s data, the firm has so far invested $96 million in its Vietnam manufacturing project, located in the Vietnam-Singapore Industrial Park (VSIP) Hai Phong.
VSIP Hai Phong is developed by VSIP Ltd., a joint venture between Singapore’s Sembcorp Industries and Vietnamese leading industrial property developer Becamex.
Le Trung Kien, head of Hai Phong Economic Zone Management Board, said Taiwanese companies have so far channeled about $2 billion into its production projects in the northern city, whose FDI total is now almost $24 billion.