11 Nov Phu Ha Viglacera Industrial Park successfully attracts Korean electronics firms
Previously, foreign direct investment (FDI) businesses mainly focused on developing projects in provinces near Hanoi such as Bac Ninh, Bac Giang, Vinh Phuc, Hai Duong, Hai Phong, causing overcrowding, shortage of labor and increased wage competition. Therefore, investors now aim at provinces with abundant labor resource, low labor cost, despite of their further location from Hanoi.
Mr. Tran Ngoc Anh – Deputy CEO of Viglacera Corporation, Director of Viglacera Land
and Mr. Lee Jong Young – CEO of NT Vina Co., Ltd. signed a land lease contract
With a modern, synchronous infrastructure, particularly under the context of IC9 intersection to be completed and connected with the Industrial Park (IP) for a length of only 2 km, Phu Ha Viglacera IP in Phu Tho province has become more attractive to foreign investors, including Korean electronics businesses. On 11/11/2016, Viglacera held a land lease contract signing ceremony of 30,000 m2 in Phu Ha IP with NT Vina Co., Ltd. This is a Samsung’s level 1 vendor, specializing in component technology and having a factory with 6 years of operation in Vietnam. The factory in Phu Ha IP, which is its second factory in Vietnam, will produce micro vibration motors and anti-vibration camera for smartphones. NT Vina plans to launch the factory in late November 2016 and put into operation in February 2017.
Beside NT Vina Co., Ltd., a number of other electronic enterprises are doing due diligence to build factory in Phu Ha IP. This demonstrates the increasing attractiveness of Phu Ha IP to electronics firms.
The 350 ha Phu Ha – Viglacera IP in Phu Tho province has a synchronous and modern infrastructure system, connected to the Noi Bai – Lao Cai Highway by IC9 intersection, and located near Ho Chi Minh arterial road. Travelling time of investors from the IP to Hanoi CBD and neighboring. The IP is located in Phu Tho town, which is home to abundant labor force, low labor cost, as well as low rent.