Electrical Equipment / Components & Telecoms

According to Huacheng Import and Export Data Observation, two investment projects worth 132 million US dollars invested by Chinese enterprises have recently obtained investment registration certificates issued by Vietnam's Beijiang Province.

One of the projects is invested by HIUV Applied Materials Technology Investment, located in the Viet Han Industrial Park in the Viet Yen district, with a value of $90 million. The project covers an area of approximately 52803 square meters and is used to produce self-adhesive PET protective films, EAV films, silicone films, thin film materials, as well as plastic products and materials for the solar energy industry.

The factory is expected to hire approximately 300 people and be completed within 12 months. Afterwards, the factory can contribute approximately 44.5 billion Vietnamese dong (1.89 million US dollars) to the national budget annually, as reported by Huacheng Import and Export Data Observation.

According to previous information, on September 28, 2022, Haiyou New Materials (688680) announced that the company plans to establish a wholly-owned subsidiary in Singapore and establish a polymer special film production factory in Vietnam with self raised funds. The project will be carried out in stages with an annual output of 50 to 100 million square meters of photovoltaic cell packaging film. The total investment of the project is about 99 million US dollars, including 53 million US dollars of fixed assets investment and 46 million US dollars of operating capital required after reaching the capacity.

Recently, the company stated that it has obtained the "Investment License" for the project after being reviewed by the Industrial Zone Management Bureau of Beijiang Province, Vietnam, and has completed the business registration procedures for the Vietnamese company, obtaining the "Business Registration Certificate" issued by the Beijiang Provincial Department of Planning and Investment.

Another project is a $42 million factory built by Yonz Technology Singapore, located in the Yen Lu Industrial Park in Yen Dung District. The factory covers an area of approximately 100000 square meters and is expected to produce 110000 tons of aluminum frames annually for the solar cell manufacturing and assembly industry. The project will be completed within 24 months and will create nearly 1090 job opportunities thereafter, according to Huacheng Import and Export Data Observation.

Yongzhen Co., Ltd. was established in 2016 and is located in Changzhou, Jiangsu Province. It is an enterprise mainly engaged in technology promotion and application services. With the continuous development of the photovoltaic industry, Yongzhen Group is also actively carrying out capacity expansion plans. According to public information, Yongzhen Group's Wuhu photovoltaic frame production base with an annual output of 270000 tons is currently under construction, and plans to invest in the construction of a new 180000 ton photovoltaic frame production base in Vietnam. At that time, the company's total production capacity can reach 670000 tons, according to Huacheng's import and export data observation report.

At the certificate handover ceremony, these two investors stated that they hope to contribute to the solar ecosystem and economic development of Beijiang Province and will strictly abide by Vietnamese laws. Phan The Tuan, Vice Chairman of the People's Committee of Beijiang Province, promises to provide investors with the best possible conditions within the legal framework.

According to Huacheng Import and Export Data Observation, there are currently 493 foreign investment projects in Beijiang Province, Vietnam, with a total value of over 9.1 billion US dollars.