Molex, the world’s leading electronic component and connection device manufacturer, has announced a plan to expand its production facility in Hanoi with a total production area of 16,000 sqm.
Joe Nelligan, CEO of Molex, said the expansion of the factory in Hanoi would speed up the company’s development plan in terms of scale and production capacity in Asia Pacific.
Molex’s factory will be equipped with modern machines such as robots, high speed plastic molding machines, stamping machines, plating machines and automatic assembly machines with mechanical processing units and a quality assessment laboratory.
Molex is present in more than 40 countries and contributes to technology transformation in many fields such as data science, industrial automation, healthcare, 5G mobile network platform, cloud computing and consumer electronics.
Vanti Fan, CEO of Delta Electronic, said that Vietnam is a destination for investors from many countries, including the US, China, South Korea and Singapore.
Vietnam has a well trained labor force with professional skills and the country is creating a development strategy for the 4.0 industrial revolution. It is also a member of many free trade agreements including the EU-Vietnam Free Trade Agreement (EVFTA) and the Regional Comprehensive Economic Partnership (RCEP).
Shi-Chi Ho of Techman Robot said that Vietnam maintains high GDP growth rates and many corporations have shifted their production from China to Vietnam.
Asia has the highest robot usage rate (54 percent) in the world. China, Japan, South Korea and Taiwan are using robots the most. These countries also have high levels of investment in Vietnam.
The report pointed out that Vietnam is one of the markets with the lowest operating costs in the region, just higher than Cambodia and Myanmar.