Chinese chipmaker Victory Giant Technology Co., Ltd. has announced a major investment of over $800 million to establish a new factory in Vietnam.

The facility, dedicated to the research, development, manufacturing, and trade of high-precision circuit boards, will cover a 10-hectare site within the VSIP Bac Ninh 2 Industrial Park.

The investment agreement was signed on March 19th between Victory Giant Technology and VSIP Bac Ninh 2 Industrial Park. The signing took place during the visit of Vuong Quoc Tuan, Vice Chairman of the Bac Ninh Provincial People's Committee, to China. Tuan's trip included a visit to Victory Giant Technology Group's factory in Guangdong province.

The company aims to begin project implementation as soon as land is secured, with plans to start operations by mid-2025. This deal marks a further expansion of Victory Giant Technology's investment in Bac Ninh province.

Mr. Nguyen Anh Tuan, Secretary of the Bac Ninh Provincial Party Committee, highlighted Victory Giant Technology's reputation as a leading Chinese enterprise specializing in advanced electronic components and semiconductors.

He expressed the province's ambition to become a hub for the electronics industry and affirmed commitment to supporting the project: "Bac Ninh Province is committed to accompanying the group in implementing subsequent steps and facilitating the most favorable conditions for the project to commence operations at the earliest."