Taiwan electronics supplier Foxlink to invest $135 mln in central Vietnam

Taiwan-based Foxlink International Investment Ltd, a maker of electrical components for communications devices, computers and consumer electronics, will invest $135 million in a factory in the central city of Danang.

According to the Danang Hi-tech Park and Industrial Zones Authority (DHPIZA), the 11.35 hectare factory will manufacture touch pens, wireless earphones, battery packs, charging stations and printed circuit boards (PCB). Once operational, the plant will employ 2,000 people.

So far, the Danang Hi-Tech Park has attracted 28 investments, including 16 domestic ones with a total registered capital of VND7.02 trillion ($286 million) and 12 FDI projects worth $702 million.

Senior officials have said that the DHPIZA will focus on attracting high-quality investment projects into the Danang Hi-tech Park with registered capital of over $100 million.

Priority will be given to sectors like biotechnology, precision mechanics and automation, new materials and nano materials.

Key target markets will be Japan, South Korea, the U.S., the E.U. and Singapore, the officials said. Particular efforts will be made to woo transnational corporations, economic giants and businesses with products serving the global supply chain, they added.

Registered FDI capital in Vietnam rose 7.7% year-on-year to $20.21 billion in the year to September 20, while disbursed capital hit $15.9 billion, up 2.2%, according to the Ministry of Planning and Investment. In the same period, Danang attracted $36.24 million in FDI, up 28% year-on-year, ranking 30th among all provinces and cities.

As of September 20, Danang had attracted total FDI investments of $6.34 billion in 1,004 projects, ranking 18th among all localities in investment value.