First Solar Corporation – one of the US investors have set up business in Vietnam in the field of high technology.
After several years of halt operation, First Solar Corporation (USA) has officially restarted the project of manufacturing solar panel with thin-film technology in Ho Chi Minh City (HCMC).
So far, First Solar’s project (in the Dong Nam Industrial Zone, Cu Chi district, HCMC, investment capital of 1.2 billion USD) is still the only and largest scale project, producing solar panel with thin-film technology in industrial parks and processing zones in HCMC. Therefore, the dynamics of investors involved in this project attracted great attention.
First Solar’s contractor has started work for about two months. Meanwhile, the investor is coordinating with the authorities to carry out the works such as making environmental impact assessment reports, import and export procedures… After completing the necessary works, Fisrt Solar will carry out the import of equipment and machinery for factory installation to prepare for production.
It is known that First Solar’s project was granted investment certificate in January 2011 and started construction in March 2011. However, 8 months after starting construction, the investor has announced a temporary halt to the project, due to the supply-demand imbalance of solar cell products in the global market.
According to a privileged information source, on early August 2017, representatives of First Solar Corporation is expected to meet and share information on the implementation of the project with leaders of HCMC.
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.