In April 2024, Meiko Group, a leading Japanese company, broke ground on a new electronics printed circuit board (PCB) manufacturing facility in the Left Bank Industrial Park in Hoa Binh city, Hoa Binh province.
The project involves the construction of a factory for producing electronic circuits for peripheral devices, computers, home electronics, audiovisual equipment, solar panels, and various types of chips.
Spanning an area of 9.2 hectares, the project entails a total investment of $200 million (over VND 4.6 trillion). The investment is expected to increase to $500 million with the construction of a second factory in Hoa Binh.
Meiko anticipates that the Hoa Binh facility will employ 3,000 workers and contribute approximately VND 200 billion annually to the local budget.
In 2022, Hoa Binh province’s state budget revenue reached approximately VND 6.4 trillion, and in 2023, it stood at roughly VND 4.7 trillion. Therefore, Meiko’s projected contribution of VND 200 billion per year will account for 3-4% of the province’s total budget revenue in the coming years.
Nearly four months after the groundbreaking ceremony, the factory’s framework is taking shape. The project is progressing rapidly, with hundreds of engineers and workers, along with machinery, present on-site to expedite construction.
Meiko is a global leader in the production and assembly of electronic circuits, with five factories in Japan and two in China.
The Hoa Binh facility is Meiko’s fifth factory in Vietnam. Since 2006, the group has been one of the largest foreign investors in the country. Their previous project, the Meiko Vietnam Electronics factory in Thach That, was also the largest electronics manufacturing project in Vietnam. The image shows the Meiko Vietnam Electronics factory in Thach That (image source: pgtech).
To date, Meiko has created over 7,000 jobs in Vietnam and contributed approximately $30 million annually to the state budget. The photo offers a glimpse inside one of Meiko’s factories (image source: Baodautu).
In the future, the completion and operation of Meiko’s Hoa Binh factory will significantly contribute to job creation and positively impact the state budget.
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