Sunny Optical Technology Group and the leaders of Thai Nguyen Province on Wednesday signed an agreement on investment expansion worth US$2.5 billion under the presence of Deputy Prime Minister Tran Luu Quang.
China's biggest optical maker has proposed to build an industrial centre with a total investment of up to $3 billion, covering an area of 26-40 hectares in Yen Binh Industrial Park, to manufacture camera lenses and optical equipment for automobiles.
Construction of the facility would take five years upon the granting of an investment license by the local authorities. This is a large-scale investment in the field of electrical optics, serving the automotive industry.
Deputy PM Tran Luu Quang suggested the Chinese group plans to invest in other localities to create its ecosystem in Viet Nam and create favourable conditions for Vietnamese high-tech enterprises to participate in its auxiliary equipment supply chain.
With an investment of $2-2.5 billion, Sunny Group can establish a high-tech research and development centre in Thai Nguyen to apply new technologies in production and to easily transfer the technologies to Viet Nam, Quang recommended.
He requested Thai Nguyen authorities further facilitate the Sunny Group’s operations and expressed his belief that such a favourable business climate will prompt Sunny to devise an investment expansion plan in Viet Nam.
Ye Liaoning, chairman of Sunny Group in Ha Noi, wished to receive support from the Vietnamese Government, ministries, and sectors in implementing the project and pledged to strengthen cooperation between Sunny and localities of Viet Nam to help promote the group’s business partnerships in the country.
To date, Sunny Group has invested in four projects in industrial parks in Thai Nguyen, Vinh Phuc and Ha Noi provinces. Of which, Sunny Optech's investment in Thai Nguyen is worth $110 million.
From 2010, Thai Nguyen has made spectacular progress to become a bright spot in attracting FDI. It is currently home to Samsung Electronics' largest Viet Nam-based smartphone factory. Up to 2022, the province has 197 valid projects with a total registered investment capital of about $10.4 billion, ranking 11th nationwide. — VNS