Goertek Expands Vietnam Investments Despite Project Termination
Chinese investor group Goertek has announced plans to expand its investments in Bac Ninh, Vietnam. The company, which has operated in the region since 2013, aims to increase its capital one and create more jobs. This comes despite a recent termination of one of its projects.
Goertek Vina Smart Technology Co., Ltd. has increased its investment capital one by $130 million, bringing it to $540 million for its Goertek Nam Son-Hap Linh project. The group, which has established four companies in Bac Ninh since 2013, has created over 60,000 jobs and plans to continue this trend.
The group prioritizes recruiting high-quality local workers and aims to develop a high-quality technical workforce of Vietnamese professionals. Bac Ninh People's Committee welcomes these efforts, encouraging further investment and cooperation. However, in mid-September, the Bac Ninh Industrial Zones Management Authority terminated one of Goertek's projects under the Investment Law.
Goertek has committed to continuing collaboration and support from Bac Ninh People's Committee for other facilities in the province. Despite the termination of one project, the investor is responsible for completing liquidation procedures and fulfilling legal obligations. The company's expansion plans, including increasing capital one in existing factories and expanding projects at Nam Son – Hap Linh Industrial Park, indicate a continued commitment to the region.
