Taiwan electronics firm Lite-On to start $690 mln Vietnam project soon

Taiwan-based Lite-On Technology Corporation, a world-leading provider in optoelectronics and power management, is set to start its $690 million investment in Vietnam next month.

According to a recent project report, the firm received an investment registration certificate for the project in October 2023 and has been proceeding with administrative procedures since then.

Lite-On aims to complete administrative procedures this month and kick off the construction of the first phase in November 2024, towards completion in October 2025.

The project will cover 30 hectares in Song Khoai Industrial Park, also called Amata Ha Long, in the northern coastal province of Quang Ninh.

For the first phase, Lite-On plans to run trial production from November 2025 and official production from May 2026.

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; and others.

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