Taiwan’s Foxlink International Investment Ltd. is likely to increase its investment in Vietnam’s central city of Danang to $400 million in its second phase and beyond.
Vu Quang Hung, director of the Danang Hi-Tech Park and Industrial Zones Authority (DHPIZA), unveiled the information at a Friday meeting with chief of the municipal Party Committee Nguyen Van Quang.
The DHPIZA attracted $260 million in investment last year, far above its year target of $200 million.
Besides Foxlink, a number of semiconductor producers from Taiwan and Japan are exploring opportunities to set up facilities in the city’s high-tech park, with a combined area of 500 hectares.
Quang asked the DHPIZA to promote investments in prioritized industries such as electronics, semiconductors, and advanced medical equipment, and prepare for the expansion of the high-tech park.
At a meeting with Foxlink executives the same day, Quang hailed the firm’s swift action to roll out its investment plan after receiving an investment license last year. He promised further support from the city’s leadership as well as the DHPIZA for the firm on its path ahead.
Foxlink started its Danang operations in late September 2023 with an initial investment of $28 million, and is poised to produce electronic components and high-tech products for tech giants such as Microsoft, Google, and Apple. Its plant will employ 1,500-2,000 workers.
A Foxlink executive said that the firm will recruit core managers and send them for training in mainland China and Taiwan. In addition, it is filing for construction and fire prevention permits to put the plant into operation quickly to process already placed orders.
Since 1986, Foxlink Group has designed and manufactured connectors, cables, power management devices, and battery packs on an original equipment manufacturer (OEM)/original design manufacturing (ODM) basis for several leading global manufacturers of communications equipment, computers and consumer electronics.