RFID tag manufacturer Arizon to invest $67 mln in northern Vietnam

Arizon Technology (Vietnam) Co., Ltd, under Taiwan-based radio frequency identification (RFID) manufacturer Arizon, will invest $67 million in the northern province of Hung Yen.

The firm received an investment registration certificate for the project on Sunday at a conference held to discuss the province's 2021-2030 master plan and to promote investment.

Ho Yi Da, chairman of Arizon Vietnam, said the firm had decided to invest in Hung Yen after checking 20 locations around the world. He said they aimed to make the Hung Yen factory the biggest RFID facility in the world.

The executive noted Arizon was the fastest growing RFID business in the world at 20-40% each year in the last decade. Its current biggest facility in Yangzhou, China, started operations in 2014.

The capacity of Hung Yen facility is expected to double that of the one in Yangzhou at 30 billion RFID items a year, equivalent to global demand in 2023, Da said

The Ministry of Planning and Investment and Hung Yen authorities granted investment registration certificates and in-principle approvals to 24 projects at the conference. These included 19 foreign investment projects worth $630 million and five domestic ones worth VND10 trillion ($393.6 million).