US tech company signs MoU to expand its operations at Saigon Hi-Tech Park.
Jabil Circuit, Inc., a global provider of design, engineering manufacturing, and supply chain solutions, signed a memorandum of understanding (MoU) with the management board of the Saigon Hi-Tech Park (SHTP) at Jabil’s new Blue Sky Center in San Jose, during a visit to the US by a delegation led by the Ho Chi Minh City Party Committee Secretary Le Thanh Hai.
Jabil Circuit will add $500 million more to its investment in expanding its operations at SHTP.
“The Vietnamese Government’s support of our expansion was critical and marks an important new milestone for Jabil in Vietnam and greater Asia,” said Mr. Alessandro Parimbelli, Executive Vice President and CEO, Enterprise and Infrastructure, at Jabil. “As we continue to expand our services for customers in the region we are also helping to support the growth and economic strength of Ho Chi Minh City and Vietnam.”
He added that Jabil is planning to develop local talent for future leadership positions by providing training and development opportunities. Jabil’s goal is to increase the percentage of local skilled professionals by creating more than 3,000 new jobs in the local area over the next five years.
The new facility, slated for breaking ground in 2017, will focus on high-volume production in the computing, storage, networking, telecommunications, automotive, digital home, mobility, point of sale, printing, industrial, and energy sectors.
Jabil Vietnam currently occupies 300,000 square feet of space at SHTP and employs 2,600 people. The new facility will occupy up to 1 million square feet.
SHTP is a State-owned industrial park providing tax incentives and reasonable land rentals in a strategic location to attract technology companies.
Jabil is a global product solutions company providing comprehensive services to electronics and technology companies in a broad range of industries. The company began operations in Vietnam in April 2007 and has grown about 50 per cent year-on-year for the last five years.