10:12 | 16/07/2019 Investment
Multinational Chinese electronics firm TCL has registered to build two factories to produce speakers, headphones and other accessories in the northeastern province of Quang Ninh.
|A rendering of TCL's plant in Binh Duong province - Photo: vietnamfinance.vn|
TCL is waiting for approval from the province. The two manufacturing plants would be located in the Dong Mai Industrial Park in Quang Yen district. Once in operation in May 2020 if all goes according to plan, they will create 2,000 jobs for local workers.
In the meantime, TCL’s secondary investors are studying other production facilities in the industrial park.
TCL announced the news at a meeting with the Quang Ninh People’s Committee this week, held to explore investment and co-operation opportunities at the province’s industrial parks.
Nguyen Van Thang, Chairman of the provincial People’s Committee, said the province would create favourable conditions for TCL and its secondary investors to carry out the projects.
However, Quang Ninh would not seek to attract investments at all costs, Thang said, but would instead promote selective FDI projects towards sustainable development and environmental protection.
The province will give priority to projects using advanced and environmentally friendly technologies.
Established in 1981, TCL focuses on designing, developing, manufacturing and distributing electronic products, including television sets, mobile phones and other small electrical appliances. It has 22 production bases worldwide, employing 75,000 people and operating in 160 markets.
It entered Vietnam in 1999. In 2018, its sales rose by 50 per cent from the previous year and its television brand was the fourth largest in the country.
In February, TCL started construction of a new TV production plant in the southern province of Binh Duong with a total investment of 54 million USD. The factory is expected to serve the Vietnam, Southeast Asia, US and EU markets to meet the increasing demand for high quality TVs.