Hon Hai to Invest in Vietnam


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TAIPEI, Taiwan Hon Hai Group is expected to invest $1 billion in a comprehensive manufacturing complex in Hanoi, Vietnam. The site would be Taiwan-based Hon Hai's fourth major production base overseas, joining sites in China, Eastern Europe, and India.

The facility will occupy a 5,000-hectare site, with a projected completion date of late 2007 or early 2008. Hon Hai created a task force to study the Hanoi prospect, according to reports from China Economic News Service (CENS). Vietnam was officially invited to join the World Trade Organization (WTO) in November 2006, a move that promises to open the domestic market and provide security for foreign investors, according to BBC analyst Bill Hayton.

Investment incentives include low land prices, a viable workforce, and various tax options. CENS maintains that major electronics firms, especially in computer, communications, and consumer (3C) electronics, are developing bases in the country, providing impetus for EMS providers to locate facilities nearby. The projected Hon Hai facility will mainly produce 3C assemblies.

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