Sunwoda will pour an additional $300 million into the manufacturing facility in Yen Lu Industrial Park. The project will employ 5,000 local workers and generate $1 billion in revenue per year. Sunwoda will continue to make additional investments in the next stages based on its upcoming growth in Vietnam
The information was shared at a meeting between Le Anh Duong, Chairman of Bac Giang People's Committee, and Sunwoda COO Xiang Haibiao on July 16.
Haibiao said, “Sunwoda has nearly 30 years of operation in the computer battery, phone battery, and electric vehicle battery industries. In April 2023, Sunwoda established the first company in Van Trung Industrial Park in Bac Giang. After one year of operation, the company has decided to expand its investment thanks to the favourable investment climate.”
In addition, Sunwoda will build a smart park to minimise carbon emissions while applying optimised solutions to increase energy efficiency and the use of clean energy, contributing to environmental protection. The company will also utilise technology currently used in China for its production in Vietnam.
Chairman Duong noted that, "Bac Giang pays special attention to luring investors, especially those from China. At present, Chinese investors take the lead in terms of the total registered investment capital in the locality with over $6 billion, accounting for 30 per cent of the total industrial production value of the foreign direct investment sector. Their ventures have created jobs for about 200,000 workers."
"Sunwoda already runs a small manufacturing facility in Bac Giang, and plans to scale up its operations. We welcome this expansion and commit to creating the stronger conditions for the company to invest in Bac Giang," he stressed.
At the meeting, Sunwoda also signed an in-principle investment contract with Capella Land JSC, the developers of Yen Lu Industrial Park.
Source: VIR
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Service detailOn July 3rd, 2024, FIBIC welcomed a group of business delegation from our key partners: Shenzhen Industry Convergence Promotion Association (SZICPA) and Hong Kong Technology Innovation & Integration Association (HKTII) to visit Vietnam and find out about the investment opportunities in the country. We had arranged the whole trip for the delegation including several meaningful and practical activities such as: site tours to different industrial parks, ready-built facilities, construction sites, meetings & dinner networking.
On June 26, 2024, the 11th floor of the Vietnam Economy Times (VET) Building in Hanoi was abuzz with the energy and enthusiasm of industry leaders, investors, and professionals who came together for the Vietnam Industrial Connect 2024 conference. FIBIC team are pleased to participate the event as one of the sponsor and contribute to the organization of a successful event. It provided a platform for meaningful discussions on socio-economic development, foreign investment trends, and the future prospects of Vietnam's FDI attraction.
In today’s rapidly evolving global market, Vietnam stands as a vibrant hub for industrial development and foreign investment. With its strategic location, robust economic policies, and a welcoming business environment, Vietnam offers unparalleled opportunities for investors from around the world, particularly from China, Hong Kong, and other key regions.
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