Techtronic Industries (from Hong Kong – China) is the investor of the FDI project into Techtronic Tools (Vietnam) Co. Ltd. This organization works in the field of microelectronics. It has a comprehensive capital of $650 million, $130 million of which is used to construct a component manufacturing plant for smart handheld devices in industries and daily life, along with a new Research & Development (R&D) Center.
There are two approved domestic production businesses. The first is Orgalife Nutrition Science Co. Ltd., which creates enzyme and related nutrition products, with the total investment capital of VND700.6 billion (approx. $30.23 million). The other is Vietnam Standard Reference Material Factory, invested by Vietnam Standard Reference Material Joint Stock Co., with the total amount of VND270 billion ($11.65 million).
The 6 R&D projects are for HDKING R&D Center for High Technologies, invested by iSmartcity Joint Stock Co. with the total capital of VND420 billion ($18.12 million); DFM R&D Center for Technology by DFM Tech Joint Stock Co., with VND115 billion ($4.96 million); Vietnam-Japan Hi-tech R&D Center by CNC Vietnam-Japan Investment Co. Ltd. with VND360 billion ($15.53 million); the R&D Center for Robot Manufacturing and Automation by CNC Idea R&D Center with VND115 billion ($4.96 million); the R&D Center for Irradiation Technology by An Phu Irradiation Joint Stock Co. with VND877.68 billion ($37.87 million); and the R&D Center for Plant Cells and Medicine Material Production by Goldenlife Pharmaceutical Product Joint Stock Co. with VND478.5 billion ($20.64 million).
According to Ms. Le Bich Loan, Head of SHTP Management Board, the approval of these 9 projects has helped her organization to achieve the goal of attracting FDI and domestic investment in 2019. Noticeably, SHTP contributes 55 percent to the total new FDI investment capital of the city and 8 percent to the comprehensive investment capital of HCMC in 2019.
In the meeting, Chairman of the HCMC People’s Committee Nguyen Thanh Phong congratulated the nine approved businesses and especially expressed his trust in the FDI project of Techtronic Industries for the production of smart wireless handheld devices and other hi-tech products in Vietnam, which will then form a hi-tech supporting industry ecosystem for the growth of domestic enterprises in order to participate in the global supply chain and increase the localization of hi-tech products.
The Chairman also delivered his happiness in knowing that many Vietnamese businesses are now able to make good use of advanced technologies in the Industry 4.0 era. This will no doubt be a great help to establish a hi-tech community in HCMC for the completion of the project developing a highly interactive innovative urban area in the East of HCMC.
Taking part in the event besides Chairman Nguyen Thanh Phong were HCMC Party Secretary Nguyen Thien Nhan, Standing Vice Chairman of the HCMC People’s Committee Le Thanh Liem, and representatives of related state agencies and businesses.