Taiwanese firm to invest US$30 million in factory building scheme

This information was unveiled during a meeting held on October 25 between Vuong Quoc Tuan, vice chairman of the Bac Ninh provincial People's Committee, and representatives of TES Touch Embedded Solutions (Xiamen) Co.,Ltd. The primary purpose of these discussions was to explore investment opportunities in industrial zones throughout the northern province of Bac Ninh.

During  the reception, Tuan emphasized that with a favourable geographical location, synchronous infrastructure, and high-quality human resources, Bac Ninh has successfully attracted a number of FDI inflows over recent years.

Most notably, the province boasts a total of 16 industrial zones, attracting several significant projects from 39 countries and territories investing in 16 industries and fields, with a total investment capital of roughly US$23 billion.

Of the figure, Taiwan (China) has 55 investment projects capitalised at some US$600 million in Bac Ninh, with typical Taiwanese investors including Foxconn, Fushan, and Sunfar.

Recently, Bac Ninh province has adopted a number of incentive policies aimed at attracting investment, Tuan said, adding that the locality is willing to create the optimal conditions possible for foreign businesses in general and Taiwanese businesses in particular.

For his part, Chen Chien Cheng, deputy general director of TES Touch Embedded Solutions, highlighted the province's socio-economic development achievements over recent years, revealing that the company will move production from India to Vietnam, with estimated investment capital in the first phase reaching about US$ 30 million

The occasion saw representative from local authorities answer the company’s various queries relating to high-quality human resources, local supply chain systems for products such as packaging and plastics, as well as preferential policies on tax and customs.