Delegates perform the groundbreaking ceremony for the construction of the Yuan Long Vietnam factory at Green iP-1. — Photo baodautu.vn

HÀ NỘI — Yuan Long Vietnam Co., Ltd. on May 28 broke ground on a ceiling fan manufacturing project in the Liên Hà Thái Industrial Park (Green iP-1) in Thái Bình Province, with total investment capital reaching US$120 million.

This marks the fifth project in the park with investment exceeding $100 million, reaffirming Thái Bình’s attraction to high-tech foreign direct investment (FDI).

The project will cover an area of 15.6 hectares and be implemented in two phases. Phase one is expected to be completed and operational by the fourth quarter of 2025, while phase two is scheduled for completion by the end of 2028.

Once operational, the plant will manufacture ceiling fans and components for export to European and American markets.

The facility is expected to generate annual revenues of around VNĐ3.2 trillion, contribute VNĐ269 billion to the State budget, and create stable employment for 4,500 local workers. It is anticipated to provide a significant boost to industrial growth, labour restructuring, and socio-economic development in Thái Bình Province.

Chen Hung Wei, general director of Yuan Long Vietnam Co., Ltd., expressed his appreciation for the support from local authorities and partners.

He said: “Establishing a manufacturing facility abroad is a challenging journey, especially as this is Yuan Long’s first investment in Việt Nam.

"The timely support from local government, the Economic Zone Authority, and the close coordination of Green i-Park have enabled this project to commence on schedule. This provides a solid foundation for our long-term development in Thái Bình.”

Chen also emphasised the company’s commitment to combining smart manufacturing with environmental protection, while creating employment opportunities and delivering sustainable value to the community.

Bùi Thế Long, general director of Green i-Park Joint Stock Company, the industrial park’s infrastructure developer, said that Green i-Park regards Taiwanese investors as strategic partners not only for their advanced technologies but also for their strong culture of cooperation. He noted that Yuan Long’s decision to invest in Liên Hà Thái reflects its confidence in Thái Bình’s investment environment and development potential.

Representing Thái Bình Province, Vũ Kim Cứ, head of the provincial Economic Zone and Industrial Parks Management Authority, described the project as a key component of the province’s high-tech investment attraction strategy. He said the groundbreaking ceremony was the result of close collaboration between the government and investors, injecting new momentum into the province’s industrialisation and modernisation efforts. — VNS