Investment maintains high-tech alignment

Foreign investment into Vietnam continues to pick up pace, mostly targeting high tech and more modern sectors.

- By Thanh Van

Last week, TLT Manufacturing, a European-based electronics manufacturer, inaugurated a new production facility in Vietnam.

Operating under the name TLT Electronics Vietnam, the facility has successfully completed its test production runs. Covering 6,500 square metres, the plant has already recruited 60 employees and is expected to expand its workforce to 110 by the end of the year.

Vietnam’s proximity to the Asian electronics supply chain means shorter lead times on components and raw materials, competitive input costs, and tariff-advantaged access to Asian markets through the country’s free trade agreements, the company said.

“With Vietnam now operational alongside our Lithuanian facilities, that flexibility extends to geography itself: manufacture in Europe, in Asia, or split between both, with the benefits each location brings,” added a company representative.

Meanwhile, Taiwanese electronics manufacturer Lite-On plans to inject an additional $150 million into its wholly owned subsidiaries in Vietnam, according to filings submitted to the Taiwan Stock Exchange in late April.

The company will pour $110 million into Lite-On Vietnam to scale up production expansion and electrical and electronic products.

$39 million in Lite-On Technology Vietnam to facilitate a new factory development and operational activities in Quang Ninh province.