Taiwan's Pegavision Corporation breaks ground on a $200 million medical equipment factory

Pegavision Corporation's $200 million factory will specialise in research, development, production, and sales of optical products and medical equipment. The factory will span10 hectares in Lien Ha Thai Industrial Park (IP).

Once operational in 2028, the factory is expected to employ 1,140 workers and produce 600 million items per year. The factory is expected to generate a revenue of VND2.8 trillion ($113.3 million) per year, contributing VND82 billion ($3.3 million) to the state budget annually.

Pegavision Corporation was established in 2009 with headquarters in Taiwan, focusing on the research, development, and production of soft contact lenses and medical optical devices. This profession uses high-tech, modern, and environmentally friendly machines. Pegavision is certified for quality by ISO13485, GMP, Japan FMA, Europe CE, Taiwan TFDA, China NMPA, snd US FDA. The company's products are supplied to Japan, S Korea, the United States, and Europe.

Pegavision Corporation is the 11^th investor in Lien Ha Thai IP to start construction of a factory. Five other projects are in the pipeline in 2024 and investors are completing procedures for establishing legal entities and applying for construction permits.

By the end of this year, all 16 projects are slated to come into operation and operate at full capacity. They are expected to employ 39,600 workers, facilitating the workforce transition from agriculture to the industrial sector.

Nguyen Quang Hung, Standing Vice Chairman of Thai Binh People’s Committee, said, “The project is of a large scale with modern technology, which is in line with the province’s investment attraction strategy. At the same time, we highly appreciated the choice and investment decision of Pegavision Corporation in Lien Ha Thai IP. After selecting the investment location, Pegavision Corporation has actively implemented investment procedures to break ground on the project.”

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