Meiko Electronics, a Japan-headquartered company, is set to open a new print circuit board (PCB) factory in Vietnam in the second quarter of 2025. The $100 million project, located in Hoa Binh province in northern Vietnam, is a significant investment that will contribute to the country’s growing electronics manufacturing industry.
The construction of the factory began in April, with a groundbreaking ceremony attended by Prime Minister Pham Minh Chinh. The project initially covered 1.2 hectares but has since been expanded to 9.3 hectares in the Bo Trai Song Da Industrial Park. This expansion indicates the company’s commitment to establishing a large-scale manufacturing facility in Vietnam.
According to the project report, Meiko Electronics aims to complete the construction of the office and factory buildings by the third quarter of 2024. Equipment installation is scheduled for the fourth quarter of 2024, followed by staff recruitment and training in the first quarter of 2025. The official operation of the factory is expected to commence in the second quarter of 2025, with plans to start factory leasing activities by the end of 2028.
The factory’s annual capacity is impressive, with the ability to design 14,500 PCBs worth $15 million and manufacture and assemble PCBs and electronic items totaling 80,000 square meters or 135 tons. The project is expected to create job opportunities for 100 workers during the construction phase and 650 workers during operation, providing a significant boost to the local economy.
During the groundbreaking ceremony, Meiko Electronics announced plans to increase its total investment in Vietnam to $500 million with the construction of a second factory. These factories will produce electronic circuits for a wide range of products, including peripheral devices, computers, electronic home appliances, audio-visual equipment, solar cells, microprocessor chips, and controllers.
Prime Minister Pham Minh Chinh expressed his gratitude to Meiko Electronics for its continued investments in Vietnam, which have exceeded $1 billion over the past two decades. He also called on the authorities in Hoa Binh province to support and facilitate more high-tech investments in the region, highlighting the government’s commitment to attracting foreign investment and promoting economic growth.
Overall, Meiko Electronics‘ new PCB factory in Vietnam represents a significant milestone in the country’s efforts to attract foreign investment and develop its electronics manufacturing sector. The project is expected to create jobs, boost local industry, and contribute to Vietnam’s economic development in the years to come.