Taiwan’s Johnson to build world’s largest fitness equipment plant in Vietnam

Taiwan-based Johnson Health Tech. Co., Ltd. is seeking to invest $100 million in an exercise equipment manufacturing and assembly hub in northern Vietnam, the would-be largest of its kind in the world.

The facility, set to cover 20 hectares in the Thuan Thanh I Industrial Park in Bac Ninh province, will be the group’s second establishment in Vietnam, Johnson’s CEO Jason Lo told Bac Ninh Chairman Vuong Quoc Tuan on Monday.

The new plant will manufacture control panels, motors, running belts and other accessories. It is scheduled to start construction in Q1/2025 and enter operation one year later, employing 2,000-3,000 laborers and raking in $120 million in annual revenue.

The group poured $50 million into a 10-ha plant in 2019 in the Thuan Thanh II Industrial Park, also in Bac Ninh province, earning $60 million in annual revenue from the facility. The group now has six production bases worldwide.

Once the second plant comes online, the group will shift its operations in mainland China, Taiwan, and other countries to the new Vietnam facility, said Jason Lo, asking for assistance in setting up the plant.

At the meeting, Chairman Vuong Quoc Tuan suggested that Johnson work with the provincial Industrial Zones Authority to finalize procedures and get the investment registration certificate, ideally early next month.

The official promised the best conditions for the group and other investors to do business in the province.

Tuan briefed the guest that the province, despite being the smallest locality in the country by area, was the biggest foreign direct investment (FDI) recipient nationwide in the first seven months of this year, with $3.2 billion committed.

Taiwanese investors have registered to invest more than $700 million in 63 projects in the province.

Bac Ninh currently houses 16 industrial parks with a combined 6,400 ha. Of these, 12 are operational, with an occupancy rate of over 60%.