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.
Lite-On factory in Hai Phong city, northern Vietnam. Photo courtesy of Lite-On Technology Vietnam.
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.
- Related News
- Read More
Elon Musk company okayed to pilot Starlink satellite internet service in Vietnam
Vietnam has allowed the U.S.'s SpaceX to pilot Starlink low-orbit satellite internet service in the country on a pilot basis until January 1, 2031.
Industries - Wed, March 26, 2025 | 5:18 pm GMT+7
Danish toymaker Lego to open $1.3 bln Vietnam plant next month
Denmark's Lego will officially open its factory in VSIP III Industrial Park in Vietnam's southern province of Binh Duong on April 9.
Industries - Wed, March 26, 2025 | 4:18 pm GMT+7
Top Singaporean firms earn high incomes in Vietnam
Singapore is the second-biggest foreign investor in Vietnam, with over $84 billion in registered investment capital as of end-January and many prominent investors raking in high incomes.
Companies - Wed, March 26, 2025 | 3:45 pm GMT+7
Vietnam, Singapore ink significant deals in Hanoi
Vietnamese Prime Minister Pham Minh Chinh and his Singaporean counterpart Lawrence Wong on Wednesday witnessed the signing of many cooperation deals between agencies and enterprises of the two countries.
Economy - Wed, March 26, 2025 | 2:51 pm GMT+7
Vietnam's major policies are reshaping economic development
Major policies are reshaping Vietnam's approach to economic development, which focuses on science, technology, and private enterprises, said a leader at the Vietnam Chamber of Commerce and Industry (VCCI).
Economy - Wed, March 26, 2025 | 12:11 pm GMT+7
PM okays over $10 bln urban area project in central Vietnam
The over VND260.3 trillion ($10.16 billion) Cam Lam New Urban Area project in the south-central province of Khanh Hoa has received in-principle approval from Prime Minister Pham Minh Chinh.
Real Estate - Wed, March 26, 2025 | 8:58 am GMT+7
S Korea's KIM Fund raises stake in Vietnam's marine transportation firm VIPCO
South Korea’s KIM Fund has increased its stake in Hai Phong city-based Vietnam Petroleum Transport JSC (VIPCO, HoSE: VIP) to 2.73%, making it the latter’s second-largest shareholder.
Companies - Wed, March 26, 2025 | 8:30 am GMT+7
Vietnam, Singapore seek cooperation chances in semiconductor industry
The Vietnam Trade Office in Singapore, in collaboration with the Singapore Semiconductor Industry Association (SSIA), organized a hybrid seminar on Monday to introduce Vietnam's potential, advantages, and development strategies for the semiconductor industry.
Southeast Asia - Tue, March 25, 2025 | 10:55 pm GMT+7
OV intellectuals in UK suggest blueprint for Vietnam’s int’l financial hub ambition
Vietnam can rise as a major international financial centre, both regionally and globally, with a strategic vision that highlights transparency, a skilled workforce, modern infrastructure, robust financial markets, and strong international branding, the Vietnam Intellectual Society in the UK and Ireland (VIS) told visiting Vietnamese Permanent Deputy Prime Minister Nguyen Hoa Binh in a recent meeting.
Southeast Asia - Tue, March 25, 2025 | 10:55 pm GMT+7
Vietnam Deputy PM discusses financial center development with ECB
Vietnam's Standing Deputy Prime Minister Nguyen Hoa Binh on Monday met with representatives of the European Central Bank (ECB) to discuss plans for the establishment of financial centers in Vietnam, as part of his working visit to Germany – the final stop in his European tour.
Southeast Asia - Tue, March 25, 2025 | 10:52 pm GMT+7
Indonesia keeps commitment on energy transition
Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto on Monday affirmed that the U.S. decision to pull out of the Just Energy Transition Partnership (JETP) will not impact the other partners' commitment to it.
Southeast Asia - Tue, March 25, 2025 | 10:35 pm GMT+7
Malaysia’s electric vehicle sales surge
Malaysia’s automotive industry is gaining momentum, with electric vehicle (EV) sales soaring over the past two years and continuing to rise in 2025, driven by both domestic and international manufacturers.
Southeast Asia - Tue, March 25, 2025 | 10:23 pm GMT+7
Japan turns to Vietnam, Indonesia to tackle truck driver shortage
Logistics and transportation companies in Japan have begun recruiting foreign nationals as drivers now that their industries qualify for a special employment visa amid a severe labor shortage.
Southeast Asia - Tue, March 25, 2025 | 10:19 pm GMT+7
Malaysia expected to achieve economic growth of 4.5-5.5% in 2025
The Malaysian economy is projected to expand between 4.5% and 5.5% in 2025, underpinned by resilient domestic demand and ongoing investment activity, despite external uncertainties, according to the country’s central bank Bank Negara Malaysia (BNM).
Southeast Asia - Tue, March 25, 2025 | 10:10 pm GMT+7
Singapore’s core inflation falls in Feb
Singapore’s core inflation declined for the fifth straight month in February after falling sharply in January as most spending categories saw smaller year-on-year price increases.
Southeast Asia - Tue, March 25, 2025 | 10:01 pm GMT+7
China’s apparel giant 'unwinds' Texhong Industrial Park expansion in Vietnam
China-headquartered Texhong, among the largest core cotton textile suppliers in the world, will “unwind” the expansion of its Texhong Industrial Park (Texhong Hai Ha Industrial Park) in the northern Vietnam province of Quang Ninh, the firm said on Monday.
Industrial real estate - Tue, March 25, 2025 | 9:28 pm GMT+7
