The factory will specialise in producing communication equipment, computers, computer peripherals, smartphones and smart wearable devices with a design capacity of 32 million items per year, all of which will be exported.

According to the plan, the factory will put into operation in the fourth quarter of 2024. Once completed, the factory will create jobs for about 15,000- 20,000 workers. Inventec Vietnam is expected to earn up to $3 billion in annual revenue.

Yeh Li-Cheng, general director of Inventec Vietnam said, "In the first phase, the company will build the factory and invest in machinery over about 16 hectares. In the next stages, the company will establish a research and development complex. We will also share the technology of our global production chain with Vietnamese businesses."

Inventec Vietnam is currently using about 10-30 per cent of Vietnamese-made products. The company will increase the localisation rate to over 50 per cent.

“This plan will benefit both Vietnamese businesses and our company. Basically, there are no quality problems with products made in Vietnam. If the delivery time could be shorter and the price more reasonable, it would be better," Li-Cheng said.

The Vietnam market, Hanoi in particular, is one of the key investment destinations of the group in Southeast Asia. Inventec's investment project in HANSSIP aims to establish a research and development complex, supply chain, production, and accessory system. The initiative will support Hanoi and Vietnamese businesses participating in Inventec's global production chain and its partners.

In March 2023, Inventec also signed a training cooperation agreement with universities and colleges to train 20,000 workers to support its expansion plan.

Source: VIR