At 8:00 a.m. Vietnam time on December 15th, the commencement ceremony of T&W Production Park in Vietnam was grandly held in An Duong Industrial Zone, An Duong District, Hai Phong City, Vietnam.Wen Wanxing, Director of the Vietnam Office of the Company's Vietnam T&W Preparatory Group, Han Tehui, Fan Wenwei (Vietnam) and Yan Shun, members of the Infrastructure Group in Vietnam, attended the commencement ceremony.
In order to expand the distribution of overseas markets and enhance the competitive advantage, on August 11 this year, the Company signed a Vietnam Land Purchase Agreement with Shenzhen VCEP United Investment Co., Ltd. to set up a wholly-owned subsidiary T&W Electronics (Vietnam) Co., Ltd. in Hai Phong City, Vietnam and build a Vietnam production base.
It is reported that the T&W (Vietnam) Production Base Project covers an area of 88000 m2 , which is planned to be developed in three phases, with the Phases I and II projects constructed at the same time and the Phase III reserved for industrial manufacturing. The proposed project for Phase I and Phase II covers an area of about 90,000 square meters, including 2 factory buildings (3 floors + overhead floor), 1 electronic material warehouse (4 floors + overhead floor), 1 staff restaurant (4 floors + overhead floor), 1 administrative complex building (4 floors + Chinese restaurant) and some ancillary buildings (special material warehouse, production waste room, etc.).Among them, the production area is basically the same as the present production usable area of Pingshan Park. According to the overall deployment of the Company, the target construction period is 18 months, and the project construction is required to be completed on June 30, 2022, with the conditions for production. As an important part of the Company's overseas strategic layout, the Vietnam Base, after the completion, will further consolidate the industrial manufacturing foundation of new and old businesses, and ensure that the Company can better cope with the risks that may be brought about by changes in the international external environment at the same time.
