Local authorities hopes the factory will boost the economy and promote further investment in the province.
On April 5, management of Tinh Phong Industrial Zone in Quang Ngai issued an investment license to begin construction of a Sumida components factory.
The factory will be operated by Sumida Electronic Components Co. Ltd., which is investing $10 million into the project. It will focus on the research, production and development of products such as electric transformers, inductors, and other components and accessories related to consumer electronics, as well as automotive, medical and industrial equipment.
Output of transformers is expected to reach 12 million units per year with other products totalling 120 million units. The factory will match all standards set by Japan’s electronics industry. The factory is expected to be tested in December 2015 with operations to begin towards the start of 2016.
A representative of Sumida said that it is committed to implementing the project on schedule and guaranteeing they meet all standards set.
Speaking at the meeting, Chairman of Quang Ngai Provincial People's Committee, Mr. Le Viet Chu said, “The factory is very important for attracting and promoting investment in the province.” He also suggested that the province will create favourable conditions to support investors in the process of project implementation.
On the same day, another project received licensing, with factories, offices and other ancillary buildings by Kizuana JV Corporation getting the green light. Total investment is believed to be $3.6 million.