return icon Vietnamnet.vn

Foreign tech firms scale up operations in Vietnam

Molex, the world’s leading electronic component and connection device manufacturer, has announced a plan to expand its production facility in Hanoi with a total production area of 16,000 sq m.

Molex’s plan to expand its production base is expected to create at least 200 more jobs in the hi-tech manufacturing sector.

Molex established its first factory in Vietnam in 2007, and the expansion helped satisfy high demand for the company’s products, which are used in many fields such as smartphones, TVs, household appliances, and medical and testing equipment.

Joe Nelligan, CEO of Molex, said the expansion of the factory in Hanoi would speed up the company’s development plan in terms of scale and production capacity in Asia Pacific.

Molex’s factory will be equipped with modern machines such as robots, high speed plastic molding machines, stamping machines, plating machines and automatic assembly machines with mechanical processing units and a quality assessment laboratory.

Molex is present in more than 40 countries and contributes to technology transformation in many fields such as data science, industrial automation, healthcare, 5G mobile network platform, cloud computing and consumer electronics.

Vanti Fan, CEO of Delta Electronic, said that Vietnam is a destination for investors from many countries, including the US, China, South Korea and Singapore. 

Vietnam has a well trained labor force with professional skills and the country is creating a development strategy for the 4.0 industrial revolution. It is also a member of many free trade agreements including the EU-Vietnam Free Trade Agreement (EVFTA) and the Regional Comprehensive Economic Partnership (RCEP).

He said that Vietnam is a strategic market for the company. It hopes to be among the top 5 automation solution providers in the Vietnamese market by 2027.

Shi-Chi Ho of Techman Robot said that Vietnam maintains high GDP growth rates and many corporations have shifted their production from China to Vietnam.

Asia has the highest robot usage rate (54 percent) in the world. China, Japan, South Korea and Taiwan are using robots the most. These countries also have high levels of investment in Vietnam.

TMX, a consultancy firm, has released a report on average business costs in Asia, which focused on assessing the competitiveness of nine countries.

The report pointed out that Vietnam is one of the markets with the lowest operating costs in the region, just higher than Cambodia and Myanmar.

Nguyen Thai

MORE NEWS

Male model finishes fourth runner-up at Mister Grand International

Nguyen Vu Linh, Vietnamese representative at Mister Grand International 2022, was awarded the fourth runner-up title during the male pageant’s grand final held in Trinidad and Tobago on November 26.

Magnitude three earthquake hits northern border locality

An earthquake measuring three on the Richter scale jolted Ha Giang city in the northern border mountainous province of the same name on November 28.

Foreign fans congregate at Hanoi beer hub for 2022 World Cup

German and Spanish fans make their presence felt on backpackers street Ta Hien in Hanoi’s Old Quarter on November 28, supporting their respective countries at the ongoing 2022 FIFA World Cup underway in Qatar.

AI - the future of retail

Technology is changing the retail sector, with artificial intelligence (AI) shaping shopping centers and stores of the future.

Hanoi to celebrate New Year with drone light show and marathon

A countdown event, concert, drone light show and an international marathon will be held in Hanoi to celebrate the New Year 2023.

How will Vietnam escape the 'middle-income trap'?

Vietnam aims to become a higher average income country and a high income country by 2035 and 2045. However, to reach that goal, it will have to overcome challenges, especially institutional ones.

HCM City develops food streets to attract tourists

Ho Chi Minh City is focusing on developing food streets to attract more tourists and make them spend more during their stay in the city.

Int’l experts, organisations believe in Vietnam's sustainable growth potential

Experts, and representatives of international organisations, and investment funds have shown their belief in the potential for sustainable growth in Vietnam in the coming tỉme.

Why has HCM City removed 'residential people’s groups'?

With the elimination of over 25,000 "residential people’s groups", HCM City has cut 38,000 part-time officers.

Duan wins Hanoi Midnight marathon title, eyes SEA Games slot

Almost 10,000 elite and amateur runners registered to participate in the event. The number was double that of the first edition in 2020.

HCM City seeks to prevent illegal waste dumping

HCM City’s environmental sector is taking steps to prevent illegal dumping of domestic waste transported from neighbouring provinces to the city.

Macroeconomic and monetary policies key to improving economy

A volatile global market, the COVID-19 pandemic, approaching the limit to horizontal expansion and inefficient macroeconomic policies in the past...

Domestic tourism increases but spending remains low

The domestic tourism market was a lifesaver during the difficulties of the COVID-19 pandemic, but local spending on tourism is still low and needs a boost, experts have warned.

Transparent practices help farmers sell more produce

The optimal requirement of farm produce is safety, and without it, sales would be low.

Hanoi's tourism shows strong recovery since March 2022

Eight months after the reopening of international travel, Hanoi has seen substantial development in the tourism sector.
back_to_top