Japan-based printed circuit board (PCB) manufacturer Meiko Group will invest an additional $450 million in its factory in Hoa Binh, Phu Tho province, Vietnam, taking its total investment in the facility to $800 million.
The Japanese company received an investment certificate for the expansion on Tuesday (November 10), according to a statement released on Thursday. The factory is operated by Meiko Electronics Hoa Binh Co., Ltd., at the Bo Trai Song Da industrial park.
Da Hop JSC, which operates the industrial park, said the expansion will increase the factory’s annual PCB production capacity from 180,000 square meters to 261,000 square meters in the second phase. Once fully operational, the facility will have an annual capacity of 504,000 square meters.
Meiko said the investment certificate was awarded during Vietnamese General Secretary-State President To Lam’s visit to the company’s headquarters in Kanagawa, Japan. During the visit, Meiko also signed a memorandum of understanding with Vietnam National University Hanoi covering internships and research, along with a strategic cooperation agreement with GTINX, an industrial technology company operating under the Ministry of Public Security.
Founded in Japan in 1974, Meiko began investing in Vietnam in 2006 and started construction of its first factory in the country in 2008.
Phu Tho province has attracted $2.3 billion in investments from Japanese companies so far, including Toyota, Honda, Sumitomo and Sojitz.
