Two high-tech projects worth $640 mln break ground in northern Vietnam

Two Chinese-invested, high-tech projects worth a total of $640 million broke ground on Sunday at the VSIP Bac Ninh II Industrial Park in Bac Ninh province.

The first is the $520 million Victory Giant Technology Vietnam factory project, invested by the Guangdong-based Victory Giant Technology Joint Stock Company.

The total expected output of this factory will reach 4 million square meters of high-precision printed circuit boards and an estimated value of about $900 million.

The project will be implemented in two phases. Phase 1 (2024-2026) has an investment of $260 million, while it is $260 million for phase 2 (2027-2030).

Products at the factory will be widely used in such fields as AI, big data centers, industrial Internet, green energy cars, new-generation communication technology, aerospace, and medical equipment.

Victory Giant specializes in R&D, production and trading of high-precision, multi-layer PCB boards, HDI, FPC and Rigid-Flex flexible circuit boards.

The second to break ground on the same day is a project of Green Precision Manufacturing Vietnam Co., Ltd., also located in the VSIP Bac Ninh II.

This Chinese-backed, high-tech company specializes in researching, designing and manufacturing precision structural components for electronic consumer products, such as speakers, phones, tablets, and electronic payment devices.

The Green Precision factory project was granted an investment registration license by the Bac Ninh Industrial Park Management Board on November 7, 2024, with total investment capital of $121 million.

It is expected to start operation in the second quarter of 2026, with production capacity of 62 million products worth about $413 million a year.

Bac Ninh attracted $1.44 billion in registered FDI in the first two months of the year, 3.8 times higher than the same period last year, according to local official data. The province ranked first in two-month registered FDI.

The province granted investment certificates to 48 new FDI projects in the period, of which 30 projects came from China and seven from Singapore.

Bac Ninh has licensed 2,459 FDI projects which remain valid, with total registered investment capital of $31.29 billion from 41 countries and territories, ranking seventh in the country.