Taiwan electronics firm Lite-On to build $690 mln project in Vietnam next quarter

Taiwan-based Lite-On Technology Corporation, a world's leading provider in optoelectronics and power management, is set to begin building the first phase of its $690 million project in Vietnam’s Quang Ninh province in Q1/2025.

A delegation of the firm made the statement at a Wednesday meeting with Quang Ninh authorities.

The firm has received the land lot for its project and is proceeding with administrative procedures. It aims to complete the first phase in November 2025.

Lite-On Technology urged provincial authorities to support the project by helping with the construction of houses for workers and experts.

In reply, Vu Dai Thang, a Party Central Committee member and Party chief of Quang Ninh, said the province would help reduce the administrative procedures. He also asked relevant agencies to support the project’s plan on housing development for workers and experts.

Thang suggested the firm to utilize rooftop solar power to meet Quang Ninh's green transition.

Lite-On received an investment registration certificate for its $690-million project in October 2023 and has been proceeding with administrative procedures since then. The project will cover 30 hectares in Song Khoai Industrial Park, also called Amata Ha Long.

The project’s first phase has an annual capacity of 64.4 million items, including 33.3 million power converters, equivalent to 21,309 tons; 20.7 million computer keyboards and mouses, or 25,252 tons; 2.2 million wireless routers, or 3,245 tons; 312,500 electric vehicle chargers, or 9,375 tons; 2.34 million power sources for computer servers, or 28,024 tons; among others.

Prior to Quang Ninh, Lite-On has been investing in Vietnam with projects worth $96 million in the neighboring city of Hai Phong.