22:17 | 27/05/2017 Companies
(VEN) - May 26, Jabil Circuit, Inc. (NYSE: JBL), held a groundbreaking ceremony for its new facility at the Saigon Hi-Tech Park (SHTP) in Ho Chi Minh City, Vietnam. The event marked the expansion of Jabil Vietnam’s operations to a total of 413,000 square feet of building space at the industrial park.
Scheduled to be completed by the end of 2017, the new facility will provide additional storage space and accommodate future high-volume production of computing, storage, networking, telecommunications, automotive, digital home, mobility, point of sale, printing, industrial and energy sectors. This expansion comes as Jabil marks its decade milestone in Vietnam and prepares for future growth.
“Since we began operations in Vietnam ten years ago, we have been on a consistent growth trajectory. We are currently operating at maximum capacity and this expansion is central to our growth strategy. Besides positioning us well for future growth, this expansion also reflects our continued commitment to develop and invest in Vietnam,” said Vijay Chinnasami, senior vice president of electronic manufacturing services (EMS) operations at Jabil.
In 2015, Jabil Vietnam signed a memorandum of understanding (MOU) with the SHTP management board to expand its operations. It currently employs about 4,500 employees and aims to create more than 3,000 new jobs in the local area over the next five years. Jabil also plans to develop the local talent pool for future leadership roles with training and development opportunities.
“With its location in the heart of Vietnam’s growing tech industry, proximity to major air and sea ports and availability of skilled workforce, the Saigon Hi-Tech Park offers competitive advantages for companies looking to establish operations in Vietnam. We are pleased that Jabil has decided to expand its facility at SHTP and are confident that this will bring about both direct and indirect benefits to the local community,” said Le Hoai Quoc, president of the SHTP.
Jabil Vietnam specializes in high volume product solutions and serves the industrial and energy, networking and telecommunications, point of sale and printing sectors. The site has also received several “Best-In-Class” awards from respected companies in the telecommunications, point of sale, smart meter and set-top box industries.