Authorities in north-central Nghe An province have given the green light to a project building a technology factory at the VSIP Nghe An Industrial Park.

The project will receive investment of $115 million from the Everwin Precision Technology Vietnam Co., Ltd.

Covering 16.5 ha, the Everwin Technology Factory has a designed capacity of manufacturing 40 million products annually, for shells, components, molds, and metal parts used for smart car equipment and new energy cars; 50 million products a year for wire, cable, and conductor products; power rods and wires; and 30 million products a year made from plastic, rubber, and ceramic.

The project consists of three phases, with operations scheduled to begin in January 2027, April 2028, and April 2030, respectively.

Previously, Everwin Precision Technology Vietnam, part of the Everwin Precision Hong Kong Co. Ltd, invested $200 million in building an electronics component project at the VSIP Nghe An Industrial Park. Construction began in October, 2022.

Nghe An province has attracted over $1.41 billion worth of FDI so far this year.