Universal Scientific Industrial to expand Vietnam investment to $290 mln

Mainland China-based Universal Scientific Industrial (USI), an electronics supplier under Taiwan-based ASE Technology Holding, will increase its investment in Vietnam to $290 million.

The firm started its investment in Vietnam in 2020 as it kicked off the construction of a $200 million factory in the northern coastal city of Hai Phong.

It received an investment registration certificate, the fifth edition, to up the total investment to $290 million last month, according to a recent project report.

The project will cover 6.5 hectares in Dinh Vu Industrial Park of Dinh Vu-Cat Hai Economic Zone. For the additional investment, USI aims to install equipment in March-May 2025, run trial production in June-August 2025, and enter official operation in September 2025.

The firm now employs 650 people and is set to enlarge its workforce to 1,162 people in the expansion phase.

With the additional investment, USI will increase the factory’s annual output to 245 million items, including electronic components, bar code scanners, tablets, directional controllers, wireless communications products, cooling devices, electronic items for automobiles, and others.

The country’s total registered FDI hit $31.4 billion in the past 11 months, up 1% year-on-year. Hai Phong ranked fourth with $2.15 billion.