The opening of 1,5 billion USD LG factory in Hai Phong

LG – Hai Phong Technology Complex will be the place to manufacture and assemble various lines of TV, telephone, household products and equipment for cars, serving the needs of both domestic and foreign market. Built on a total area of 800,000 m2 in Trang Due Industrial Zone, Hai Phong, this newly opened complex is LG’s largest factory in the region. According to the Korean electronics giant’s representative, the complex will play a key role in LG’s global development strategy.

The total investment capital for LG’s new factory is 1.5 billion USD and will be disbursed in two phases, from 2013 to 2020. The number of employees is expected to be over 8,000 by 2020.

With the opening of the new factory, LG is committed to promoting technology transfer, accelerating the process of developing and modernizing Vietnamese electronics industry, with the localization rate  expected to reach 50% in the first phase of the project.

In addition, LG will also consult and transfer the modern production management processes to auxiliary manufacturing factories, in order to ensure the quality, to meet the requirements of supplying raw materials and auxiliary equipment for LG’s factory, thereby promoting Vietnam’s auxiliary industries.

LG complex is expected to be a premise to attract foreign investment into Hai Phong. This is also a big project contributing to the process of renovating the development structure and the objective of sustainable economic growth of Hai Phong city. The factory will come into operation and will create employment for tens of thousands of workers in the area as well as neighboring provinces.

At the opening ceremony of the factory, Mr. Bon-joon Koo, Vice President and CEO of LG Group, affirmed: “This is an important event marking LG’s 20 years of  development in Vietnam market. LG’s new factory in Hai Phong will play an important role in LG’s global production strategy.

Currently, Mro Vietnam is a partner in providing electric power tools and supplies for LG Hai Phong factory and its customer.

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