Nguyen Van Tho, the Chairman of the People’s Committee in Ba Ria-Vung Tau, recently presided over a meeting with representatives from Beijing Oriental Electronics Group (BOE), a Chinese display maker. The discussion, held on November 17, focused on the forthcoming BOE Vietnam Phase II smart terminal equipment project. BOE Group is a supplier for both Apple Inc. and Samsung Electronics Co., Ltd.
The project is earmarked to be situated in the specialized Phu My 3 Industrial Park (IP). With an approximate total investment of $300 million, the venture is expected to cover around 286,000 square meters in phases 1 and 2. The project’s goals include the assembly and production of seven million computer monitors annually, 3 million televisions, 40 million electronic shelf labels (ESL), 20 million ESL module boards, 20 million plastic components, and 44.8 million surface mount technology (SMT) circuit boards.
Scheduled for completion and operation by 2026, the project anticipates a demand for 3,300-3,500 domestic personnel and 35-40 foreign staff.
Chairman Tho expressed his enthusiasm for BOE’s selection of Phu My 3 IP, stating, “We welcome BOE’s interest and its selection of Phu My 3 as the company’s investment destination.” He reassured that the province would provide support and create optimal conditions for the swift initiation of the project.
To facilitate the process, Tho assigned the Ba Ria-Vung Tau Industrial Zones Management Board to collaborate with relevant departments and agencies in guiding the investor through the necessary procedures.
BOE Group, having established its first factory in Vietnam in Nhon Trach II IP in Dong Nai in November 2019, is now expanding its operations with this second venture at the specialized Phu My 3 IP.
In January 2023, Reuters reported that BOE Technology Group was planning a $400 million investment for constructing two additional factories in Vietnam. Negotiations are reportedly underway to lease land in the northern region, indicating BOE’s commitment to further solidifying its presence in the country’s growing technology manufacturing sector.
Founded in April 1993, BOE is a prominent Internet of Things (IoT) company providing intelligent interface products and professional services for information sharing and human health.
As of 2022, BOE had independently filed over 80,000 patent applications globally. Out of these applications, more than 90% were patents for inventions, and over 33% were filed overseas, including in the US, Europe, Japan, and South Korea.
According to the 2022 US Patent Grant Statistics Report by IFI CLAIMS Patent Services, BOE ranked 11th in the world, marking its presence in the top 20 for the fifth consecutive year and remaining one of the few Chinese enterprises on the list.
In the 2022 rankings for international patent applications published by the World Intellectual Property Organization, BOE secured the seventh position globally with 1,884 PCT patent applications, maintaining its position among the top 10 for seven consecutive years.