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.
- Related News
- Read More
Vietnam's economy: positive changes but concerns persist
Vietnam's economic picture is looking more positive with numerous bright spots, but many difficulties remain, especially market confidence, concerns about private investment, and social consumption, writes Dr. Vo Tri Thanh, director of the Institute for Brand and Competitiveness Strategy.
Opinion - Wed, May 1, 2024 | 6:32 pm GMT+7
Major industrial park developer Kinh Bac suffers setback with $3 mln Q1 loss
Vietnamese industrial park developer Kinh Bac Urban Development Corporation recorded Q1/2024 losses of VND76.7 billion ($3 million), a setback considering its annual profit target of VND4,000 billion ($157.8 million).
Industrial real estate - Wed, May 1, 2024 | 3:51 pm GMT+7
Founder of Vietnam’s ACB bank passes away
Asia Commercial Bank founder Tran Mong Hung, father of the current chairman Tran Hung Huy, passed away Thursday. He was 72.
Banking - Wed, May 1, 2024 | 3:37 pm GMT+7
Singapore Management University opens office in HCMC
Singapore Management University (SMU) has chosen to open a representative office in Vietnam after Indonesia and Thailand as part of its vision to 2025.
Companies - Wed, May 1, 2024 | 3:18 pm GMT+7
Exhibition displays 300 artefacts of Dien Bien Phu Campaign
The thematic exhibition named "Dien Bien Phu Victory - An Eternal Epic" showcases some documentaries and artefacts for the first time to the public about Dien Bien Phu Campaign.
Travel - Wed, May 1, 2024 | 3:02 pm GMT+7
Six dead as boiler explodes at southern Vietnam wood factory
Six persons including a Chinese national died and five others were injured after a boiler exploded Wednesday morning at a wooden products factory in Vinh Cuu district, Dong Nai province.
Society - Wed, May 1, 2024 | 2:55 pm GMT+7
Trungnam Group eyes green energy development in Ninh Thuan province
Private Vietnamese conglomerate Trungnam Group plans to develop a green energy complex with an expected green hydrogen capacity of 824,400 tons per year in the south-central province of Ninh Thuan.
Energy - Wed, May 1, 2024 | 11:37 am GMT+7
S Korea's Jeil E&C to invest $35 mln in southern Vietnam high-tech logistics project
Jeil E&C, a major South Korean construction-real estate business, will invest $35.4 million in a high-tech logistics project in Dong Nai province - an industrial hub in southern Vietnam.
Industries - Wed, May 1, 2024 | 9:34 am GMT+7
Brewer giant Habeco posts biggest quarterly loss in 4 years
Habeco, among the top four brewers in Vietnam by market share, suffered a net loss of VND21 billion ($828,570) in the first quarter of 2024, up nearly sixfold from the same period last year.
Companies - Wed, May 1, 2024 | 7:00 am GMT+7
Retailer Mobile World Q1 profit rises 43 times after reshuffle
Mobile World Investment Corporation (MWG) reported an after-tax profit of nearly VND903 billion ($35.63 million) in the first quarter of 2024, a 43-fold increase year-on-year, according to the company’s financial statements.
Companies - Tue, April 30, 2024 | 9:09 pm GMT+7
Vietnam welcomes 6.2 mln foreign arrivals in Jan-Apr, 3.9% above pre-pandemic level
Vietnam welcomed over 6.2 million foreign tourists in the first four months of this year, up 68.3% year-on-year, the General Statistics Office reported.
Travel - Tue, April 30, 2024 | 3:32 pm GMT+7
April 30 Victory – Glorious milestone in national history
The Liberation of the South Day (April 30) is an occasion of great significance for all Vietnamese people.
Politics - Tue, April 30, 2024 | 3:10 pm GMT+7
$32 mln ecotourism project inaugurated in central Vietnam
Hang Gop Ecology Tourism JSC, a subsidiary of FVG Group, inaugurated its VND800 million ($31.56 million) Dong Giang Heaven Gate ecotourism project in Vietnam’s central province of Quang Nam on Sunday.
Travel - Tue, April 30, 2024 | 2:00 pm GMT+7
Dien Bien Phu Campaign's historic 3D panorama painting to be exhibited in Hanoi
The impressive 3D panorama painting showcasing the Dien Bien Phu Campaign, which captivates visitors at the Dien Bien Phu Victory Museum in the northern province of Dien Bien, will now be exhibited in Hanoi using 3D mapping technology.
Travel - Tue, April 30, 2024 | 12:59 pm GMT+7
HCMC ready for spectacular fireworks display to celebrate national holidays
Ho Chi Minh City is getting ready for a spectacular fireworks display at five different locations to celebrate the Reunification Day on the night of April 30.
Travel - Tue, April 30, 2024 | 12:56 pm GMT+7
Vietnam’s FDI sector posts $16.64 bln trade surplus in Jan-Apr
Foreign-invested enterprises in Vietnam recorded a trade surplus of $16.64 billion in the first four months of 2024, with crude oil activities factored into account, according to the General Statistics Office.
Economy - Tue, April 30, 2024 | 11:50 am GMT+7
