China’s Lenovo plans production facility in Vietnam
The facility is expected to cover an area of 20 – 30 hectares for computer parts production, which would later be exported to the US worth US$3 billion.
China’s multinational technology company Lenovo plans to buil a production facility in the northern province of Bac Giang, Vietnam, according to Bac Giang portal.
Bac Giang Chairman of People's Committee Nguyen Van Linh (r) and Lenovo's local CEO Bach Dang. Source: BGP.
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Bang requested Bac Giang’s local authority to introduce a suitable industrial park for the company’s project, adding that Lenovo is currently looking at investment procedures and related policies in the province.
At the meeting, Bac Giang Chairman Nguyen Van Linh welcome Lenovo’s initiative, saying that the province’s economic growth stood third nationwide, in which the industrial sector contributed a significant part.
In 2018, the sector grew by 28% year-on-year, Linh said.
Bac Giang currently has 92 ongoing foreign invested projects, of which the majority are Chinese investors in the production of solar power batteries and electronic components, among others.
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Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
- Growing number of FDI firms moving to Vietnam
- Vietnam Gov’t committed to facilitating Adani Group’s US$2-billion port project
- Vietnam Railway proposes US$87 million for Hanoi–Dong Dang railway upgrade
- Vietnam’s North-South high-speed railway to be designed for 350km/h
- Vietnamese gov’t urged to address impact of global minimum tax
- Samsung plans drastic investment increase in Vietnam over next three years