HÀ NỘI — The TNI Holdings Việt Nam Group and Japanese Meiko Electronics Việt Nam Company agreed to construct the third electronics plant in Việt Nam.

They signed a memorandum of understanding (MoU) to this effect on Monday.

Under the MoU, Meiko Electronics Việt Nam Company, one of the world’s leading manufacturers of printed circuit boards and electronic assembly, would lease land area and infrastructure in Quang Minh Industrial Park (IP) belonging to TNI Holdings Việt Nam, in Hà Nội’s Mê Linh District, for the establishment of its plant with a total investment of some US$50 million.

The Japanese investor chose TNI Holdings Việt Nam due to its integrated and modern infrastructure, competitive policy environment and high quality services.

In 2006, Meiko Electronics Group cooperated with TNI Holdings Việt Nam (former Việt Nam Investment Development Group – VID) to build its first electronics plant in Thạch Thất Industrial Park. The plant used to be one of 10 largest FDI projects and the largest foreign electronics production project in Việt Nam at that time.

Speaking at the signing ceremony, Nguyễn Phi Hùng, TNI Holdings Việt Nam’s chairman, said over the past 10 years, the group has seen the growth of Meiko Electronics Việt Nam Company at its IP.

“The choice of the company to build the third plant has shown strong confidence in TNI Holdings Việt Nam,” Hùng said.

The group has been one of the leading IP developers in the country by attracting more than 400 investors into its IPs, including 300 foreign ones from Japan, mainland China, the US and Germany, as well as South Korea, Thailand, Hong Kong and Taiwan.

Currently, it has 10 large scale IPs and residential areas, with a total area of 2,300ha. Its IPs have attracted more than $3 billion FDI capital with big brand names in the world, including Honda, Sumitomo Wirings, Marumitsu and Meiko, as well as Brother, Hitachi, Terumo and Ajinomoto, in addition to Pegasus (Japan), Cargill (the US) and CP (Thailand).

The group has created jobs for thousands of people, contributing to the State budget in provinces where it has IPs.

TNI Holdings Việt Nam plans to expand its current IPs such as Quế Võ 3 (Bắc Ninh), Đồng Văn 3 (Hà Nam), Bỉm Sơn (Thanh Hóa) and Minh Quang (Hưng Yên) and to build new ones in Hưng Yên, Hải Dương and Vĩnh Phúc provinces in the future to meet the demand from the increasing number of tenants. — VNS