Phu Ha industrial zone successfully attracts Korean electronics enterprise

Most Foreign Direct Investment (FDI) enterprises usually focus their project development in provinces nearby Hanoi like Bac Ninh, Bac Giang, Vinh Phuc, Hai Duong, Hai Phong,… leading to an overload, lack of labor and competitiveness in salary. Therefore, currently, investors have a tendency to invest in farther provinces with abundant supply of cheap labor, despite their farther location from Hanoi.

Mr. Tran Ngoc Anh – Deputy general manager of Viglacera Corporation – JSC, General Manager of Viglacera Real Estate Company
and Mr. Lee Jong Young – CEO of NT Vina Co.Ltd signed the land rental contract

By investing in synchronous and modern infrastructure, especially with the completion of IC9 interchange which is only 2km away from the industrial zone, Phu Ha industrial zone, Phu Tho has become more attractive to foreign investors, including Korean electronics enterprises. On November 11th, 2016, Viglaceraheld a Contract signing ceremony for the lease of 30,000 m2 land in Phu Ha industrial zone to NT Vina Company Limited. This is the first-level vendor of Samsung Corporation, which special IPes in the development of accessory technology and has had a factory in Vietnam for 6 years. The factory in Phu Ha industrial zone will be its second factory; it is used to produce super-small vibrating motors and anti-vibration camera for smart phones. NT Vina plans to commence the factory in November 2016 and start operation in February 2017.

Apart from NT Vina Co.Ltd, there are also several other electronic enterprises which are surveying Phu Ha industrial zones to invest and build their factories. This shows that the industrial zone is becoming more attractive to investors in electronics sector.

Phu Ha industrial zone, with an area of 350ha in Phu Tho province, has a modern and synchronous infrastructure; it is connected with Noi Bai – Lao Cai highway through IC9 interchange, and is situated next to thearterial Ho Chi Minh route, shortening the travel time for investors from the industrial zones to Hanoi and nearby industrial zones. The industrial zone has an abundant supply of cheap labor and cheap rental fee.