The wholly foreign invested company began construction in April.

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Solum Vina Company inaugurates its factory in the northern Vinh Phuc province. (Photo: baovinhphuc.vn) 
Covering an area of 40,000sq.m., the USD 20 million project produces and outsources electronic spare parts for TVs, computer screens, mobile phones and electronic parts for large companies, such as SamSung, Appo, Panasonic and Sony. The factory has total capacity of 10 million products per month.

In August, the company completed the factory’s construction and became operational. It has created jobs for some 1,500 people. Solum Vina Company is expected to reach a turnover of USD 300 million, contributing USD 1.5 million to the State budget in 2017.

Vinh Phuc’s IPs management board said the province attracted 159 FDI projects from 13 countries and territories with total registered capital of USD 2.9 billion in 2016.

The RoK took the lead among foreign investors in the province, with 70 projects and USD 974.9 million worth total investment. The inflow from RoK firms into Vinh Phuc’s IPs has significantly contributed to the province’s socio-economic development over the past few years.

Last week, Fuhua Co. Ltd. of Taiwan (China) also commenced construction of 17 workshops for rent in the Binh Xuyen 2 IP.

Source: VNA