Construction work starts on a Schneider Electric factory in HCM City. — Photo baodautu.vn

HCM CITY (Biz Hub) — Schneider Electric kicked off the first phase of construction for its new factory in Saigon High-Tech Park in HCM City on January 26..

The company, a global specialist in energy management and automation, did not disclose the total cost of the project, saying only that it was a major manufacturing investment as the company's business expands.

The first phase of the project includes a10,000sq.m plant on a 26,000 sq.m of land is slated for completion later this year, making it one of the main manufacturing sites of the entire Asia-Pacific region. It willmanufacture Schneider Electric's high-tech products for smart homes and other traditional wiring devices.

Over the past three years, its affiliate, Schneider Electric Manufacturing Vietnam Co., (previously known as Clipsal Vietnam Co., has shown impressive manufacturing performance, with a consistent growth rate of more than 25 percent per year. Last week, the company received a labor order, third class,from the State.

Xavier Denoly, Country President of Schneider Electric Vietnam, Cambodia and Myanmar, saidthis acknowledgement had motivated all members of the company in Viet Nam to strive harder to achieve its long-term vision in the country and to contribute more to the community in response to the trust and support offered by the Government and Vietnamese people. — VNS