Vector Fabrication Inc. is to build a printed circuit board (PCB) and micro-electro-mechanical system (MEMS) factory worth VND1,366 billion ($58.8 million) in Danang.
The Da Nang Hi-Tech Park and Industrial Zones Authority has okayed Vector Fabrication's investment plan for the 40,000-meter-square factory in Da Nang Hi-Tech Park, Hoa Vang district.
The project aims to produce PCBs while researching and developing MEMS products.
Groundbreaking is scheduled for 2022 and phase 1 operation in early 2025. Production will use state-of-the-art and high-tech lines with high level specialization and automation.
The initiative is expected to help the city's high-tech economy expand by boosting the share of processing and manufacturing in its GDP.
Since early 2022, Danang has attracted 10 projects in high-tech parks (HTPs), information technology parks (ITPs), and industrial parks (IPs), including the new PCB and MEMS project. Of these, three are foreign direct investment (FDI) projects worth a total $65.04 million.
In all, Danang now has 378 domestic and 130 FDI projects with a total investment capital of VND28,000 billion ($1.2 billion) and $1.86 billion in its HTPs, ITPs, and IPs.
Danang is one of the five centrally-managed cities in Vietnam and serves as a gateway to the central region. In this year’s Provincial Competitive Index (PCI), the central coastal city was ranked fourth best, after Quang Ninh province, Hai Phong city, and Dong Thap province.