Taiwan power conversion producer P-Duke invests $8 mln in northern Vietnam
P-Duke Technology, a Taiwan-based producer of power conversion products, has been approved to invest $8 million in building a factory in Nam Dinh province.
The provincial authorities granted an investment certificate to the Taiwanese firm on Saturday. The 3.2-hectare factory in My Thuan Industrial Park, with a duration of 48 years, is set to enter the first-phase production in October 2025 with a designed annual capacity of 11 tons of power inverters, 4.9 tons of inductors, 19.6 tons of power adapters.
Its second phase is set to begin construction in January 2031 and become operational in January 2032, with a designed annual capacity of 4.7 tons of power inverters, 2.1 tons of inductors, 8.4 tons of power adapters.
Nam Dinh Vice Chairman Tran Anh Dung (center, behind) at an agreement signing ceremony between P-Duke and My Thuan Industrial Park in the province, northern Vietnam, October 21, 2023. Photo courtesy of Nam Dinh newspaper.
Addressing the event, Nam Dinh's Vice Chairman Tran Anh Dung highlighted P-Duke’s investment is another achievement of the province in facilitating high-tech and eco-friendly investments. He also requested relevant agencies to cooperate with the investor in deploying the investment.
In the year to September 20, Nam Dinh province attracted $320.3 million of foreign direct investment, the 15th-highest figure among FDI recipients nationwide and up 672% year-on-year, according to the Ministry of Planning and Investment. So far, the province has attracted $3.94 billion in 137 valid FDI projects, ranking 26th nationwide in terms of value.
My Thuan Industrial Park is a bright spot of attracting FDI in Nam Dinh province. In August, Taiwan's housewares maker JiaWei said it would invest $100 million in building a plant in the industrial park. Also in August, Sunrise Material, a Singapore-based polymer food packaging company, said it would invest $100 million in a factory in the facility.
In May, Nam Dinh granted an investment certificate for Apple supplier Quanta Computer to build a $120-million factory in the province, the Taiwanese firm's first in Vietnam and ninth worldwide. The plant, located in My Thuan Industrial Park, is set to manufacture 1.3 million laptops and desktop computers in 2024, 2.6 million in 2025, 3.6 million in 2026, 4 million in 2027, and 4.5 million in 2028.
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