Meiko Breaks Ground on $500 Million Electronics Factory in Vietnam

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Japan’s Meiko has started construction of its sixth factory in Vietnam with a new electronic circuit manufacturing facility in the northern province of Phu Tho, backed by an investment of US$500 million. The new factory is expected to generate around US$530 million in annual revenue and create about 2,000 jobs for local residents.

Deputy Prime Minister Ho Quoc Dung attended the groundbreaking ceremony on Friday, marking another expansion by the Japanese electronics manufacturer in Vietnam. The project reflects Meiko’s continued investment in the country’s manufacturing sector. Addressing the ceremony, Deputy Prime Minister Ho Quoc Dung said Vietnam aims to become a high middle-income country by 2030 and a high-income, developed country by 2045.

To achieve these goals, the Politburo issued Resolution No. 57-NQ/TW, identifying science, technology, innovation, and digital transformation as key driving forces for national development in the new era.

Vietnam considers Japan a key partner in science, technology, innovation, manufacturing, electronics, semiconductors, and high-quality development, the Deputy Prime Minister said. He added that the new factory reflects the development of the comprehensive strategic partnership between Vietnam and Japan. Ho also praised Meiko for expanding its investment in Vietnam and called on authorities in Phu Tho province to create favorable conditions for the successful implementation of the project.

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