Japanese Meiko Electronics Group signs for third plant in Vietnam

Meiko Electronics Vietnam Co., Ltd. (Meiko), a subsidiary of Japan’s Meiko Electronics Group, selected Quang Minh Industrial Park belonging to TNI Holdings Vietnam to build its third plant, with a total investment capital of $50 million.

On October 9, the representatives of Meiko and TNI Holdings signed a memorandum of understanding. Accordingly, Meiko will rent infrastructure and a part of the land of Quang Minh IP located in Hanoi’s Me Linh district to build the plant.

Earlier in December 2006, Meiko also developed its first plant in Phung Xa Industrial Zone located in in Hanoi. At the time, Meiko’s project was one of the ten largest foreign direct investment (FDI) projects in Vietnam.

Meiko decided to continue co-operating with TNI Holdings because its IPs have outstanding advantages, including synchronous and modern infrastructure, competitive policy environment, and high-quality services.

“We have followed Meiko’s development during the past ten years. We are honoured to co-operate with Meiko in this project. Meiko’s decision shows that they have grown to believe in TNI Holdings over time,” Nguyen Phi Hung from TNI Holdings affirmed.

Being one of Vietnam’s leading industrial park developers, as of now, TNI Holdings (former Vietnam Investment Development Group–VID) has attracted more than 400 tenants at its IPs, 300 of whom come from Japan, China, the US, South Korea, Thailand, Hong Kong, and Taiwan.

Currently, it has 10 large-scale IPs and residential areas, with a total area of 2,300 hectares. TNI Holdings’ IPs have attracted more than $3 billion in FDI capital from big brand names in the world, including Honda, Sumitomo Wirings, Marumitsu, and Meiko, as well as Brother, Hitachi, Terumo, and Ajinomoto, in addition to Pegasus from Japan, Cargill from the US, and CP from Thailand.

Seeing the consecutive growth in the volume of enterprises investing in its IPs, TNI Holdings plans to develop more such parks, including Que Vo 3 in Bac Ninh province, expanded Dong Van 3 in Ha Nam province, Bim Son in Thanh Hoa province, Minh Quang in Hung Yen province, and other ones in Hai Duong and Vinh Phuc provinces.

Source: VIR