Taiwanese backlight modules maker Radiant Opto-Electronics Corporation plans a $120-million factory in the central province of Nghe An.
A company delegation led by chairman Justin Wang submitted the proposal to provincial authorities at a Tuesday meeting and asked for support in implementing it.
Covering 8.2 hectares at the VSIP Nghe An Industrial Park, the project is expected to complete construction and begin operations towards the end of 2024, manufacturing optical components, liquid crystal modules and screen modules,
Radiant Opto-Electronics, a partner of major tech firms including Apple, Foxconn, and LG, considers Nghe An in particular and Vietnam in general as an investment destination for sustainable and long-term operations over the next 30 years, Wang said.
Nghe An Chairman Nguyen Duc Trung welcomed the project, saying it would further strengthen the network of electronics businesses in the province, which already boasts notable names including Luxshare - ICT, Goertek, Everwin, Ju Teng, Foxconn, Sunny, Runergy and Shandong.
He also listed several advantages offered by the province including prime geographical location, abundant workforce and preferential policies. He said the province aimed to complete two major traffic infrastructure projects – the expansion of the Vinh international airport and the Cua Lo deep-water seaport – over the next five years.
So far, the central province has attracted foreign direct investment of $3.9 billion in 131 projects, said Nghe An Vice Chairman Bui Thanh An.
Taiwan, Hong Kong and mainland China are the biggest investors with 52 projects and a total registered capital of over $2 billion, he added.