Presently, more and more foreign investors choose to set up company in Vietnam and Coilcraft Corporation is not the exception. This is the first electronic components factory to be built in Phu Yen with capacity of 500 million pieces/year with the main products are RF chip inductors and electromagnets.
On May 13th, CCIPY Vietnam Co., Ltd (under Coilcraft Corporation, USA) has started the construction of an electronic component factory in An Phu Industrial Zone in Tuy Hoa city, Phu Yen province with the attendance of Phu Yen province’s leaders.
According to the General Director of CCIPY Vietnam Co., Ltd, the total investment for the factory is more than 5.7 million USD and 100% of the products will be exported. The establishment of this factory in Phu Yen province is part of Coilcraft Corporation’s goal to develop production in Asia.
When it comes into operation, the project will introduce and share new technology secrets, create jobs for about 2,000 workers and contribute to increase local export and import turnover.
The project is expected to be completed and put into operation in January 2018.
In order for the project to be soon completed and put into production on schedule, the Economic Zone Authority will coordinate with relevant departments, sectors and localities to continue to create the most favorable conditions for investors to complete the factory construction plan as scheduled.
On the side of the investor, the Management Board suggested that CCIPY Vietnam Co., Ltd must ensure safety, efficiency, put the factory into production and business on time, promoting the socio-economic efficiency of the project…
Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.