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A Chinese Company Invests in a $200 Million Electronic - Component Factory in VSIP Nghe An

Everwin Precision Technology decided to establish a plant in Vietnam, following Samsung Group's increased investment in the Asian country.

According to DigiTimes, Hong Kong Everwin Precision Technology, which is a subsidiary of China-based Shenzhen Everwin Precision Technology, supplies components for Apple, Xiaomi, and Huawei.

Mr. Wong Mannon Man - Director of Everwin Precision Technology Vietnam Co., Ltd. said that from September 2020, the company started to survey in 4 provinces and cities nationwide, then decided to choose VSIP Nghe An as an investment destination. This destination can benefit from the local population density, tax incentives, provincial strategies and policies, and appropriate planning.

A summary of the factory is described below:

Besides Everwin Precision, many electronics companies have also built manufacturing bases in Vietnam amid lower labor costs and preferable tariff policies. Examples are provided below:

Despite COVID-19, Vietnam has an underlying strength of the industrial and export sectors remaining intact: Vietnam is an attractive low-cost base for manufacturing firms, including those looking to relocate from China due to the US-China trade spat, thanks to competitive labor cost and business-friendly government. With exclusive, favorable conditions for growth, Vietnam is a golden land offering plentiful promising business opportunities. Interested in investing in Vietnam? Let Broad Avenue be your partner in advising business opportunities and mapping out strategies to maximize your profits.

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