Construction officially began on the Meiko Yen Quang microchip plant following a groundbreaking ceremony on June 12 in northern Phu Tho Province's Yen Quang Industrial Park, with Deputy Prime Minister Ho Quoc Dung in attendance.
According to Mr. Sakate Atsushi, Vice President of Meiko Group, the corporation began its investment and operations in Vietnam in 2007. Currently, the group operates five factories across the country. The Meiko Yen Quang project marks their sixth facility in Vietnam, reaffirming the group's strong confidence in the nation’s investment environment and development potential.
The Meiko Yen Quang project is one of the group’s key strategic initiatives, focusing on Artificial Intelligence (AI) and aerospace technology with an initial investment capital of $500 million.
Once fully operational, the plant is expected to generate annual revenue of approximately $530 million and create employment opportunities for roughly 2,000 local workers. The Vice President of Meiko Group committed to strict legal compliance and a focus on ecological protection throughout the factory's operations, contributing to the deepening of the partnership between Vietnam and Japan.
Speaking at the ceremony, Deputy PM Dung emphasized that Vietnam has set a target to become a developing country with modern industry and upper-middle income by 2030, and a developed, high-income nation by 2045.
To realize these goals, according to the Deputy Prime Minister, the Politburo issued Resolution No. 57-NQ/TW, identifying the development of science and technology, innovation, and national digital transformation as top-tier breakthroughs and the primary drivers of national growth in the "new era."
In this process, Japan remains one of Vietnam's most important partners. The Deputy PM stressed that this partnership serves as a vital foundation for the two countries to further promote deep cooperation in science and technology, innovation, manufacturing, electronics, semiconductors, and high-quality human resource development.
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