Critical Boeing components to be manufactured in Vietnam, investor surprised for one reason.

"Now I can confidently tell my friends, as well as other investors, to come here and explore the opportunities," said the representative of the investor group for the newly launched Boeing component manufacturing plant.

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A groundbreaking ceremony for the construction of a Boeing 787 and Boeing 737 Max aircraft components manufacturing plant took place at the Da Nang High-Tech Park. On January 30, the groundbreaking ceremony for the KP VINA Aerospace Component Manufacturing Plant was officially held in the Da Nang High-Tech Park. This project is being implemented by KP Aerospace Vietnam Co., Ltd.

A few days earlier, the Da Nang High-Tech Park Management Board and Industrial Parks granted an investment registration certificate to KP AERO INDUSTRIES CO., LTD from South Korea for the Boeing aircraft component manufacturing plant project.

The groundbreaking ceremony for the KP Vina Aerospace Component Manufacturing Plant took place on January 30. Photo: Ngô Huyền

According to Tuoi Tre newspaper, during the “Meet Da Nang 2024” program held on January 26, Mr. Park Jihoon, Director of KP Aerospace Vietnam, expressed surprise at the enthusiastic assistance he received in completing procedures and documentation.

When discussing the investment in the Boeing aircraft component manufacturing plant in Da Nang, Mr. Park Jihoon mentioned hearing various rumors during the location research phase. Some of the rumors suggested that doing business in Da Nang would be difficult due to the lack of infrastructure and delays in administrative procedures. This made them hesitant to expand their business operations in Vietnam.

However, the procedures turned out to be extremely favorable. In fact, within only 1 month, Da Nang completed the evaluation and certification process and issued an investment registration certificate for this project.

“When I arrived here, I was surprised by the enthusiastic assistance in completing procedures and documentation… Now I can confidently tell my friends and other investors to come here and explore opportunities,” said Mr. Park Jihoon.

The plant is expected to be completed in 2024

The construction site of the Boeing 787 and Boeing 737 Max aircraft component manufacturing plant in Da Nang. Photo: Lê Trung

The Boeing 787 and Boeing 737 Max aircraft component manufacturing plant project has a total investment of $20 million and covers an area of approximately 2 hectares. The project is expected to strive for completion by the end of September 2024 and commence operations in 2024.

The plant will be a production and assembly facility for aircraft components, including auxiliary engine doors, wing boxes, winglets, MIC heads, and wing trailing edge support structures for Boeing 787 and Boeing 737 Max aircraft. Once operational, the KP Vina Aerospace Component Manufacturing Plant is expected to attract nearly 500 high-tech workers.

Mr. Tran Chi Cuong, Vice Chairman of the Da Nang People’s Committee, stated that the KP Vina Aerospace Component Manufacturing Plant project is highly compatible with the city’s economic and social development orientation and priority investment areas for the 2020-2025 period and beyond.

As a result, the city of Da Nang has high expectations for this project to become one of the first foundations for the formation of an aerospace and space technology complex. This platform will attract global aviation companies and corporations to research, explore investment environments, and implement projects.

The implementation and operation of this plant are expected to bring great benefits not only to investors but also to create more employment opportunities, increase local labor income, boost the state budget, and contribute to the socio-economic development of Da Nang.

Furthermore, the Da Nang High-Tech Park Management Board and Industrial Parks also have the goal of attracting at least 3 projects with a total investment of around $200 million in the near future. These projects will focus on 3 main sectors, including aerospace technology, semiconductor manufacturing, and high-quality healthcare.

KP AERO INDUSTRIES CO., LTD is a company with many years of experience and a partner of leading aviation companies such as Boeing, Airbus, and Korean Air.