Manufacturing News 27/11/2023, 01:49

Partner of Samsung and Apple plans to invest nearly 7,300 billion VND in Vietnam

BOE Group is the largest liquid crystal display manufacturer in China, a partner of Samsung and Apple.

Partner of Samsung and Apple plans to invest nearly 7,300 billion VND in Vietnam

Recently, Mr. Nguyen Van Tho, Chairman of the People’s Committee of Ba Ria - Vung Tau province, had a meeting with BOE Group, Beijing, China.

BOE Group has established, completed, and is operating the first factory in Vietnam at Nhon Trach II Industrial Park, Dong Nai province since November 2019 with products such as TVs, diplays, electronic shelf lables, and SMT circuit boards. With the goal of expanding the production market and diversifying products, BOE Group established the second investment project in Vietnam to be implemented at Phu My 3 Specialized Industrial Park, Ba Ria - Vung Tau province.

At the meeting, the representative of BOE Group informed about the project of smart terminal equipment BOE Vietnam Phase II of Beijing BOE Vision - Electronic Technology Co., Ltd. under BOE Group, which is expected to be deployed at Phu My 3 Specialized Industrial Park, Phuoc Hoa ward, Phu My town.

The project has a total expected investment of about 300 million USD. The expected land use area is about 286,719.72 m2, of which phase 1 is about 154,296.42 m2 and phase 2 is about 132,423.3 m2.

The goal of the project is to: assemble and produce displays for computers (MNT) at 7,000,000 units per year; assemble and produce TVs at 3,000,000 units per year; produce electronic shelf lables at 40,000,000 units per year; produce electronic shelf lable modules at 20,000,000 units per year; produce plastic components at 20,000,000 units per year; produce SMT circuit boards at 44,750,000 units per year.

The project is expected to be completed and put into operation in 2026, with a labor demand of about 3,300 to 3,500 domestic workers and 35 to 40 foreign workers.

Speaking at the meeting, Chairman of the Provincial People’s Committee Nguyen Van Tho welcomed BOE Group for its interest in and choice of Phu My 3 Specialized Industrial Park, Phu My town, Ba Ria-Vung Tau province as an investment destination. At the same time, the Chairman of the Provincial People’s Committee said that the province will support and create the best conditions for investors to carry out related procedures in order to put the project into operation as soon as possible.

In parallel, the Chairman of the Provincial People’s Committee assigned the Provincial Industrial Park Management Board to coordinate with related departments and sectors to guide investors in carrying out related procedures as prescribed.

BOE Technology Group, established in 1993, is the largest liquid crystal display manufacturer in China. The company has factories in Beijing, Hefei, Chongqing, and other cities. It also owns research and development centers in the US and Japan.

BOE mainly produces LCD panels for flat-screen and large-screen TVs and smartphones. The company’s market share in the LCD display segment for smartphones and tablets is the largest in the world.

Chinese display manufacturer BOE Technology Group Co. Ltd. is currently a supplier for both Apple and Samsung Electronics. BOE started producing displays for the iPhone 12 in 2020.

According to Runto Technology, in 2021, the company accounted for 10% of the total OLED panels for iPhones and produced 16 million units for Apple. According to analyst Kuo Ming-chi at TF International Securities, BOE will become the largest display supplier for new iPhone models in 2024.

BOE Technology Group’s factory in Dong Nai

Earlier this year, information about this manufacturer’s intention to invest in Vietnam was widely reported in the media. At that time, a Reuters source said that the investment could be up to 400 million USD.

BOE plans to rent up to 100 ha and use 20% to build a remote control system manufacturing factory with a cost of 150 million USD. The rest of the investment, 250 million USD, will be used to build a display manufacturing factory on 50 ha, and suppliers will use the remaining 30 ha. According to the plan, the construction of the factory will be carried out in 2025.

CafeF/ Translator: Hoàng Trúc
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