Renowned electronics manufacturer Compal Electronics has made a substantial investment of $260 million in Lien Ha Thai Industrial Park in the northern province of Thai Binh, delivering a boost to Vietnam's industrial growth prospects.
Thai Binh People's Committee revealed last week that a collaborative investment agreement between Compal Electronics Vietnam and Green i-Park JSC, of Lien Ha Thai Industrial Park (IP), was signed on June 7.
Compal Electronics Vietnam will invest in a specialised manufacturing project encompassing the production, processing, and assembly of computer systems and peripheral devices, communication equipment, consumer electronic goods, as well as electronic components.
The ambitious venture is poised for implementation within the current calendar year, with the commencement of both trial runs and full-fledged operations earmarked for early 2024.
The overall registered capital committed to this endeavour stands at a sum of $260 million. Once operational, this project is anticipated to yield considerable returns, estimated at $1.2 billion by 2029 and $6.8 billion by 2037.
Securing a lease of 40 hectares within Lien Ha Thai IP, Compal Electronics Vietnam plans to expedite the construction of their manufacturing facility within this year. The project has set its sights on undergoing comprehensive testing phases and transitioning into full-scale operations by the first quarter of 2024.
During the projected first phase, slated for the year 2026, the manufacturing plant aspires to yield an output of 12 million units. This figure is expected to double by 2030, with more substantial growth anticipated by 2031, with a projected total output of 30 million units per annum. The venture also holds promise for the local labour force, aiming to create opportunities for an estimated 17,000 individuals.
Compal Electronics boasts a remarkable reputation as a top producer of portable computers, LCD products, and intelligent devices. The company proudly features on the esteemed Fortune 500 list of emerging enterprises and is presently in partnership with renowned brands such as Sony, Asus, Dell, Lenovo, and Apple.
Lien Ha Thai IP was established in 2021. Occupying a sprawling land area spanning 588.8ha, this IP was designed as a multifaceted hub for diverse sectors, emphasising high-tech industries while minimising the environmental impact. Its key industries are electrical and electronics manufacturing, IT, precision mechanical engineering, consumer goods production, food processing, and beverage manufacturing.
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