Việt Nam News

China's biggest camera modules maker plans $2.5b investment expansion in VN

March 09, 2023 - 21:52

Sunny Optical Technology Group and the leader of Thái Nguyên Province on Wednesday signed an agreement on investment expansion worth US$2.5 billion

Representatives at the signing ceremony. — Photo daibieunhandan.vn

THÁI NGUYÊN — Sunny Optical Technology Group and the leaders of Thái Nguyên Province on Wednesday signed an agreement on investment expansion worth US$2.5 billion under the presence of Deputy Prime Minister Trần Lưu Quang.

China's biggest optical maker has proposed to build an industrial centre with a total investment of up to $3 billion, covering an area of 26-40 hectares in Yên Bình Industrial Park, to manufacture camera lenses and optical equipment for automobiles.

Construction of the facility would take five years upon the granting of an investment license by the local authorities. This is a large-scale investment in the field of electrical optics, serving the automotive industry.

Deputy PM Trần Lưu Quang suggested the Chinese group plans to invest in other localities to create its ecosystem in Việt Nam and create favourable conditions for Vietnamese high-tech enterprises to participate in its auxiliary equipment supply chain.

With an investment of $2-2.5 billion, Sunny Group can establish a high-tech research and development centre in Thái Nguyên to apply new technologies in production and to easily transfer the technologies to Việt Nam, Quang recommended.

He requested Thái Nguyên authorities further facilitate the Sunny Group’s operations and expressed his belief that such a favourable business climate will prompt Sunny to devise an investment expansion plan in Việt Nam.

Ye Liaoning, chairman of Sunny Group in Hà Nội, wished to receive support from the Vietnamese Government, ministries, and sectors in implementing the project and pledged to strengthen cooperation between Sunny and localities of Việt Nam to help promote the group’s business partnerships in the country.

To date, Sunny Group has invested in four projects in industrial parks in Thái Nguyên, Vĩnh Phúc and Hà Nội provinces. Of which, Sunny Optech's investment in Thái Nguyên is worth $110 million.

From 2010, Thái Nguyên has made spectacular progress to become a bright spot in attracting FDI. It is currently home to Samsung Electronics' largest Việt Nam-based smartphone factory. Up to 2022, the province has 197 valid projects with a total registered investment capital of about $10.4 billion, ranking 11th nationwide. — VNS

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