Bac Giang grants investment licence to hi-tech project

Nhan Dan Online - Bac Giang provincial authorities on February 3 granted investment licence to Vietnam UMEC Company Limited, an affiliate of Taiwan's Universal Microelectronics Co,. to build a hi-tech plant in Quang Chau Industrial Park.

The plant specialises in producing magnetic components, information communication products and power supplies, for export.

In the first phase of construction, which is scheduled to be carried out right in the first quarter of 2009, the factory will be built on a total area of 40,000 square metres, with an investment capital of US$16 million. Investment will be double to US$35 million in the second phase in 2010. Upon its completion, the plant will provide stable jobs for some 2,000 local workers and has an annual export turnover of US$30 million.

Jimmy Ou, Universal Microelectronics Co Chairman said that his company still decided to invest in Vietnam, despite the difficulties caused by the current global economic crisis, because he believed that the crisis would soon be over and with great efforts by the Vietnamese government, Vietnamese economy would soon recover.

Source: Nhan Dan News

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