Minh Nguyen Supporting Industries Joint Stock Company opens new plant. — VNS Photo

Minh Nguyên Supporting Industries Joint Stock Company has become one of the first domestic companies to supply components to the Samsung Electronics HCMC CE Complex at the Sai Gon Hi-tech Park in HCM City.

Earlier this week the company inaugurated the first phase of its Phuoc Thanh High-tech Research, Application and Production Complex at the Sai Gon Hi-Tech Park.

The 36,000sq.m, VND800 billion (US$36 million) facility has a capacity of 20 million products a year.

According to the company, in the first phase it will operate a plastic injection, mechanical and plastic component assembly plant each as well as research laboratory with equipment imported from Japan, South Korea, Germany, and the US.

Le Van Khoa, deputy chairman of the HCM City People’s Committee, said Minh Nguyen is one of eight companies in supporting industries to received support from the city.

“This is a good sign for firms in the country, especially the city, to develop globally.”

Soon Young Hong, deputy director of Samsung, said it was initially difficult for his company to find a company to supply components. Minh Nguyen’s new plant marks the development of Vietnamese companies in supporting industries.

Minh Nguyen is one of the few companies in the country to be chosen because most companies in supporting industries are too small and cannot meet the large demand from a giant company like Samsung.

This is a model that every company in HCM City and Viet Nam should study, Deputy Minister of Industry and Trade Tran Quoc Khanh said.

The Phuoc Thanh High-tech Research, Application and Production Complex will span an area of 52,000sq.m when finished. To cost VND1.6 trillion ($72 million), it will produce plastic and electronic components, mechanical parts and high-tech moulds. — VNS