SpaceX supplier Wistron NeWeb to invest extra $30 mln in Vietnam

Taiwan-based Wistron NeWeb, a supplier of SpaceX, will invest $30 million more in its Vietnam subsidiary Neweb Vietnam as a “long-term investment.”

In a filing with the Taiwan Stock Exchange (TWSE) last week, Wistron NeWeb said the funding will be provided in stages according to the capital expenditure plan and funding needs of Neweb Vietnam. It does not provide other details.

Neweb Vietnam was established in 2020 and entered operation from August 2021. According to Wistron NeWeb, the activities of the Vietnamese subsidiary include satellite communications products and mobile communications products.

The project’s initial capital is $60 million, according to an investment registration certificate granted to Neweb Vietnam in 2020.

The project covers 11.3 hectares in Dong Van III Industrial Park, the northern province of Ha Nam. The first phase of 64.3 hectares has an annual capacity of 10 million domestic smart devices and 10 million wireless/business network/infrastructure network items.

The second phase will double the capacity of each item.

Prime Minister Pham Minh Chinh last week directed Vietnamese authorities to urgently carry out pilot licensing for SpaceX's Starlink satellite internet services.

Chinh made the requests at a forum in Hanoi with the participation of 38 leading American companies, including Warburg Pincus, Meta, Polaris, Ford, Amkor, Amazon Web Services, Boeing, Gap, GE Venora, AES, Mastercard, AIG, Coca Cola, Bower Group Asia, and Bay Global Strategies.