The central province of Nghe An on October 28 agreed on the investment planning for two foreign-invested projects worth $275 million, including one by Luxshare ICT.
|Luxshare ICT is set to invest an additional $150 million in Nghe An |
The factory, which is invested by Luxshare – ICT Nghe An Co., Ltd., will produce electronic components with a capacity of 74 million products per year and an investment capital of $150 million.
|The two projects will locate in Dong Nam Economic Zone |
The project’s construction is expected to kick off in January 2023 and officially come into operation in March 2024. Once completed, the factory will generate 14,000 jobs.
It is the second project invested by Luxshare ICT Co., Ltd. in Nghe An, following a $140 million electronic component factory.
The other is the Tan Viet metal science and technology factory, which is invested by Yongjin Metal Science and Technology Vietnam Co., Ltd. with a total investment of more than $125 million.
The construction of the project is planned to divide into three components. The first component is expected to start operation in the fourth quarter of 2023, and the second and third are expected to be completed in the third quarter of 2026.
The two projects will be located in Dong Nam Economic Zone.
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