Business

Taiwanese firm to build touch screens factory in Bac Giang

Taiwan's Wintex Group plans to lease more than 10ha of land and warehouse space in northern Bac Giang province's Quang Chau Industrial Zone for the manufacture of touch screens.
Taiwan's Wintex Group plans to lease more than 10ha of land andwarehouse space in northern Bac Giang province's Quang Chau IndustrialZone for the manufacture of touch screens.

The company inked an agreement with the zone's investor Sai Gon – BacGiang Industrial Park Co, an affiliate of Kinh Bac Urban Development Co,on Dec. 12 in Hanoi.

The project, which has an initialinvestment of 150 million USD, is expected to begin operation in themiddle of next year and create 30,000 jobs.

A stablepolitical environment and favourable geographic location (close toChina), as well as support from local authorities and the local youngpopulation are decisive factors, said Hyley H Huang, Wintex's chairman.

He predicted that Vietnam’s northern region will attract further substantial foreign investment in the near future.

Taiwanese foreign direct investment in Vietnam now totals 22.83 billionUSD, said the Ministry of Planning and Investment's Foreign InvestmentAgency.

Major Taiwanese conglomerates, including the HonHai Group and Compal Electronics Co, now have a solid presence in thecountry.

Vietnam is a favourable investment destinationbecause of its rich natural resources and stable political and economicenvironment, said Huang Teh-hsiu, president of the Taiwanese Chamber ofCommerce in Hanoi./.
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