China’s Sunny Optical Technology Group is planning to invest up to $2.5 billion to develop an optical production complex in northern Vietnam, the local government said on Wednesday.
The complex would cover an area of between 26 and 40 hectares in Yen Binh Industrial Park in Thai Nguyen province, the provincial People’s Committee said in a statement, following the signing of a memorandum of understanding between the lens maker and the province.
Construction of the facility would take five years upon the granting of an investment licence by the local authorities, the committee said, adding it would supply electronics and automobile industries.
Thai Nguyen province, 45 kilometres (28 miles) north of Hanoi, is currently home to Samsung Electronics’ largest Vietnam-based smartphone factory.
Reuters
