Phu Tho FDI: BYD's $2.8B tablet earnings, Korea's $13.4B exports,...
- duyenthu.vietdata
- Apr 10
- 5 min read
Many large FDI projects in Phu Tho can be named such as the Electronic Manufacturing Project of BYD Company (China) with an investment capital of 269 million USD, the Solar Cell Panel Manufacturing Project of VSUN Company (Japan) with 200 million USD...
Phu Tho is one of the localities in Vietnam that attracted foreign direct investment early. At the end of 1992, Pangrim Neotex Co., Ltd. was the first FDI enterprise to set foot in Phu Tho with a 100% Korean-owned textile and dyeing factory project.
By 2023, Phu Tho had attracted more than 200 FDI projects with a total capital of about 3.1 billion USD. In 2024, the province attracted 32 new and additional FDI projects with a registered capital of 270.5 million USD (an increase of 10 projects, 31 million USD compared to 2023).
There are many large FDI projects in Phu Tho such as the Electronic Manufacturing Project of BYD Company (China) with an investment capital of 269 million USD, the Solar Cell Panel Manufacturing Project of VSUN Company (Japan) with 200 million USD, the Project of REGENT Textile Company Limited Vietnam with 180 million USD; the Yida High-end Fashion Garment Factory Project of nearly 113 million USD of Yida Vietnam Company Limited...
In addition, there is the long-standing presence of enterprises such as Paldo Vina Company Limited - a 100% Korean-owned instant noodle enterprise, Miwon Vietnam Company Limited...
China's "Electric Vehicle King" BYD builds a tablet factory
BYD Electronic (International) Company Limited, headquartered in Hong Kong, has invested in Phu Ha Industrial Park with the BYD Vietnam Electronics Factory project.
In August 2021, BYD Electronics Vietnam Co., Ltd. was established with VND 115.75 billion (equivalent to USD 5 million), its main business is the production and assembly of tablets. By 2024, BYD Vietnam will increase its capital 10 times to USD 50 million.
According to information from the Phu Tho Industrial Park Management Board, BYD Vietnam was granted the first Investment Certificate on August 25, 2021 and the first adjustment on July 22, 2022, with a total registered investment of 269 million USD.
The factory officially went into production and business from August 2022 with the main activity being the assembly of tablets. On February 28, 2023, the Company was granted the second Adjustment Certificate by the Industrial Park Management Board with a number of manufacturing lines such as chips, modules, 4G-5G modems, and flycams.
In 2023, BYD invested in expanding and increasing capital at this factory by nearly 184 million USD, to produce electronic components. The factory area is 26 hectares at Lot CN-2A, Phu Ha Industrial Park.
According to Phu Tho newspaper, BYD Vietnam currently has over 11,000 employees, with an estimated revenue of 2.8 billion USD in 2024, and an import-export turnover of 4.5 billion USD.
When the third factory comes into operation around mid-2025, production output will increase from 10 million iPads/year to 15 million iPads/year, while expanding production of flycam and robot products... bringing the total number of employees of the Company to over 15,000 people.
BYD is the largest electric vehicle manufacturer in China. In 2024, BYD recorded revenue of 777.1 billion yuan (107.2 billion USD), surpassing Tesla - the electric car company of billionaire Elon Musk (97.7 billion USD). Net profit reached 40.3 billion yuan (5.6 billion USD), up 34%.
In early 2023, Reuters reported that the Group plans to build a factory in Vietnam to produce auto parts.
Paldo Vina
Paldo Vina Co., Ltd., a member of the Korean Paldo Group, has been operating since 2013, specializing in the production of instant noodles (Koreno brand) and beverages (Pororo brand). The factory is located in Thuy Van Industrial Park, Viet Tri city, with an area of about 3 hectares.
The factory's capacity is 270 million noodle packages/year, serving the domestic and export markets, creating jobs for more than 500 local workers, contributing to the provincial budget and promoting the food industry.
According to the latest business registration certificate, the company increased its capital in August 2024 to nearly VND710 billion.
The company will open its second factory in Tay Ninh in 2023 with a capacity of 17 million tons of instant noodles/year and 19 million liters of beverages/year
Miwon Vietnam
Miwon Vietnam Co., Ltd. was established in 1994 with the predecessor being Miwon WidJaJa Vietnam Co., Ltd. with capital contributions from Hai Ha Confectionery Company VN, Miwon Company, Daihan Venture Investment Corporation, PT Miwon Indonesia Company, PT Indo Managerial Corporation. In 2003, it became Miwon Vietnam Co., Ltd., a 100% foreign-owned company under the Daesang Group of Korea.
This is one of the first FDI enterprises in Phu Tho.
In March 2022, the company changed its name to Daesang Vietnam Co., Ltd. According to the latest business registration certificate in October 2024, the company has a charter capital of more than VND 1,050 billion, owned by Daesang Group 93.1%.
The factory in Phu Tho has an area of about 5 hectares, with a production capacity of tens of thousands of tons of products per year. The company's main products include MSG, seasoning powder, dipping sauce ,and other spices.
The company creates jobs for about 1,000 workers, contributes to the development of the food industry,y and actively participates in local social activities.
HangYang Digitech Vina contributes 50% of the province's export turnover
Also, one of the major projects, contributing over 50% of Phu Tho's export turnover, HangYang Digitech Vina Co., Ltd. - a Korean enterprise, is the first enterprise in Phu Tho to be recognized as a priority enterprise by the General Department of Customs.
This is a company specializing in manufacturing and processing memory modules for servers, personal computers, manufacturing and processing SSD hard drives operating in Phu Ha Industrial Park since 2019 with over 1,700 staff and employees, and is also promoting procedures to expand production in Phu Tho.
After 5 years since choosing Phu Tho as the location of the factory, from the import and export turnover of 1.1 billion USD in 2019, the company increased to 13.4 billion USD in 2024.
According to Phu Tho Newspaper, in the first 3 months of 2025, Phu Tho attracted 5 new FDI projects with registered capital of nearly 8 million USD.
Phu Tho is a locality with indicators reflecting administrative reform, improving the quality of governance and serving the people ranked among the top in the country. Of which, the Provincial Competitiveness Index (PCI) increased by 14 places - among the top 10 localities with the best governance quality in 2023; the administrative reform index (PAR INDEX) ranked 9/63 localities, up 9 places compared to 2022.
(Tạp chí điện tử Nhịp sống thị trường)