Hai Phong grants licensing for USI for its electronics manufacturing facility

2:42:32 PM | 7/21/2020

The presentation ceremony of Investment Registration Certificate to Universal Scientific Industrial Vietnam Company Ltd. was held at Haiphong Economic Zone Authority, Haiphong city and was attended by leader of Haiphong Economic Zone Authority.

Universal Scientific Industrial Vietnam Company Ltd. is a wholly-owned sub-subsidiary of Universal ScientificIndustrial (Shanghai) Co., Ltd. (hereinafter referred to as "USI"). USI is a global electronics designer and manufacturer and has been listed in Shanghai Stock Exchange (SSE: 601231) since 2012.

USI decided to land its expansion project in the northern port city of Haiphong, Vietnam to take advantage of strategic geographical location, competitive labor costs, economic zone tax incentives to reduce its overall production costs, as a result, enhance profitability and competitiveness. This latest move matches with the itsstrategic development plan to strengthen its global presence and quickly respond to overseas clients’ demand.

USI’s new facility will be built on a 6.5 hectares area in DEEP C Industrial Zones, Dinh Vu – Cat Hai Economic Zone, Hai Phong with the total investment of 200 million USD in the 1st phase. In mass production stage, USI will supply wearable electronic device boards to overseas market, create thousands of local jobs and leverage technology and drive digital transformation of Haiphong.USI’s investment in DEEP C is expected to drive more high-tech projects, thus lay the foundation for the birth of a new electronic manufacturing cluster in Haiphong.

USI selected DEEP C Industrial Zones for this important project due to DEEP C’s practical experience in assisting business setup, plentiful land availability for its future expansion, great connectivity to a network of deep sea port – highways – international airports. In addition, USI is one of the most nature-friendly and sustainable electronics brands in the world, which is very similar to DEEP C’s vision to become the first eco-industrial park in Vietnam.

L H (Vietnam Business Forum)