Haiphong- Universal Scientific Industrial (USI), a global electronics designer and manufacturer has announced that it will build a new production base in DEEP C industrial Zones in Haiphong city, Vietnam for the needs of business expansion and industrial globalization with a view to meet demands from overseas customers.
After multiple deliberate investigations, the Shanghai-based USI has decided to acquire land-use right covering an area of approximately 65,000 square meters in DEEP C Industrial Zone in Hai Phong, Vietnam for its Vietnamese wholly-owned subsidiary to build new facilities (Phase I and II), and reserve an area to meet the potential needs of customers in the future. The investment scale and plan for Phase II will be determined separately according to the needs of customers and company development goals.
USI began to accelerate expansion since 2018. The investment in the new facility in Vietnam is matching with the Company's strategic development plan and is an important action for the global presence of the Company as well. Furthermore, it facilitates the Company to take advantage of Vietnam's labor costs, tax incentives and geographical position to reduce production costs of the Company, and enhance its profitability and competitiveness.
For this reason, USI decided to partner with DEEP C as the industrial cluster belongs to Dinh Vu – Cat Hai economic zone that offers great connectivity and the most attractive tax incentives in Vietnam. Its large landbank of over 3000 hectares will ensure plentiful land availability for USI’s future expansion. On the other hand, USI is one of the most environmental friendly and sustainable electronics brands in the world, which is very similar to DEEP C’s vision to become the first eco-industrial park in Vietnam.
USI aims to complete the set-up of a its Vietnamese subsidiary in the second quarter of 2020, but it did not give further details on the project's expected construction and start-up time.
About USI (Universal Scientific Industrial)
USI (SSE: 601231), Universal Scientific Industrial (Shanghai) Co., Ltd., provides design, miniaturization, material sourcing, manufacturing, logistics and after services of electronic devices/modules for brand owners. USI is a member of ASE Technology Holding (TWSE: 3711, NYSE: ASX) and has many years of experience in the electronics manufacturing services industry and leverages the industry-leading technology of ASE Group, which enables USI to offer customer diversified products in the sectors of wireless communication, computer and storage, consumer, industrial, and automotive electronics worldwide. USI has a sales service network in America, Europe and Asia, and manufacturing sites in Mainland China, Taiwan, Mexico and Poland. For more information, please visit USI at www.usiglobal.com.
About DEEP C Industrial Zones
Jointly established in 1997 by Belgian developers Rent-A-Port and municipal government of Haiphong, DEEP C has evolved to be an industrial cluster of 5 sub-zones covering 3,386 ha of land for lease at the heart of infrastructure development in North Vietnam. So far, it has attracted over 120 manufacturers to invest over US$3.5 billion.