Compal to start construction of $260 million facility

A new manufacturing facility of Compal will be located in Lien Ha Thai Industrial Zone (IZ) in the northern province of Thai Binh. On December 16, representatives of Compal and Green i Park – the investor of the IZ – signed an agreement to rent land in the IZ.

The facility is expected to start operation in the second quarter of 2024. Once completed, it will have a capacity of over four million of products per year, such as smart clocks, 5G modules, IoT equipment, and tablets.

KC Chen, deputy general director of Compal Vietnam said, “Right after the signing ceremony, Compal will accelerate investment procedures for construction. The group expects to complete the facility and auxiliary area construction within one year.”

“During construction, we will recruit local employees and send them to the plant in Vinh Phuc province to participate in training courses,” Chen added.

Previously, a Taiwanese laptop maker organised a field trip to WHA Industrial Zone 1 in Nghe An in June to explore the possibility of expanding its manufacturing activities in Vietnam.

In 2021, Compal expanded its Vietnam production by adding more manufacturing capacity to its existing facility based in Vinh Phuc.

To further meet the global demand, Compal is currently planning to set up operations in other localities across Vietnam, such as Quang Ninh and Nghe An provinces where the company can thrive in the local economy.

Auto manufacturer Thanh Cong Group and Huyndai Motor Group inaugurated the second Huyndai Thanh Cong Vietnam factory in Gian Khau industrial park, the northern province of Ninh Binh, on November 15.

The automaker Truong Hai Auto Corporation (THACO) is mulling plans to invest in a mechanical supporting industrial park with the total investment capital of $1 billion in the southern province of Binh Duong.

Nam Cau Kien Industrial Park recently received a host of awards at the International Exhibition of Science and Technology Innovation held in Seoul, South Korea on November 15.

Gaw NP Capital (GNP Capital) hopes to sponsor the building of the 1/2000-scale construction zoning plan for the 650-hectare industrial zone (IZ) in the central province of Thanh Hoa.