Northern Vietnam province okays Taiwan’s $120 mln fan manufacturing investment
Thai Binh province has licensed Taiwanese-invested Yuan Long International Limited's $120 million project to manufacture ceiling fans and fan components.
Covering 15.6 hectare in Lien Ha Thai Industrial Park, the Yuan Long Vietnam factory is set to enter first-phase production in the fourth quarter of 2025 and second-phase operation in Q4/2028. It will employ 4,500 people.
Yuan Long Vietnam's office in Thai Binh province, northern Vietnam. Photo courtesy of Thai Binh industrial zones authority.
The project is expected to earn annual revenue of VND3,200 billion ($125.9 million). It can pay VND269 billion ($10.6 million) to the state budget yearly once the preferential treatment ends, according to Thai Binh industrial zones authority.
In the first 10 months of this year, economic zones and industrial parks in Thai Binh province attracted investments of $727 million, including 25 new projects with total registered capital of $660 million.
Thai Binh province allured $958 million in foreign direct investment (FDI) in the period, up 71% year-on-year, according to the Ministry of Planning and Investment. The figure included $948.2 million from 34 new projects.
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