Electronics producer adds over $305m in investment to Bac Ninh facility

Friday, Mar 04, 2022 13:38

At the licence handover ceremony. —VNA/VNS Photo

The northern province of Bac Ninh on Thursday officially licensed electronics manufacturer Goertek Vina to raise investment in its facility at Que Vo Industrial Park to US$565.7 million from $260 million.

Chairwoman of the provincial People’s Committee Nguyen Huong Giang said Bac Ninh highly appreciated investors from mainland China, Taiwan (China), the Republic of Korea and Japan, adding that with the additional investment, the company was expected to create more jobs and increase contribution to local State budget.

According to Goertek Vina CEO Yoshinaga Kazuyoshi, the company, which produces electronic devices, network equipment and multimedia audio products, now employs over 30,000 workers. Last year, its revenue rose by 20.4 per cent to $3.28 billion despite COVID-19.

Bac Ninh raked in more than $1.3 billion in foreign direct investment (FDI) in the first two months of this year, making it the country’s largest FDI recipient during the period.

FDI flows into Bac Ninh accounted for 26.5 per cent of the country’s total and was 7.6 times that of the same period last year.

The industrial province is currently home to 1,727 valid FDI projects with total registered investment reaching nearly $22.5 billion. — VNS

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