Waffer and Boway set their sights on new investments in Hai Duong

During a meeting held on October 25, Hai Duong provincial leaders met with representatives from Waffer Group and Boway Group, where significant investment plans were unveiled. Waffer Group, based in Taiwan, expressed their intention to construct a vehicle parts manufacturing factory in Cong Hoa Industrial Park, with a total investment of VND1.25 trillion ($52.7 million). The factory’s focus will be on producing spare and auxiliary parts for cars and other motor vehicles, as well as providing machinery and equipment repair services. The plan is to export approximately 10 million items annually to the US and European markets once the factory is operational. Waffer, headquartered in Taiwan, primarily engages in the manufacturing and sale of magnesium alloy injection moulding products, aluminium alloy die castings, and other components and finished products. As of December 31, 2022, Waffer’s total assets amounted to $188 million.

On the other hand, Boway, a Chinese company, proposed an investment in the BoViet solar photovoltaic cell factory, which will span 20 hectares within Cong Hoa Industrial Park. The project’s estimated value is VND2.82 trillion ($119 million). The factory will focus on producing photovoltaic cells and solar energy conversion modules, all of which will be exported to the US and European markets. Boway specializes in new materials, new energy, and other industries. The group operates multiple production facilities in China, Germany, and Canada. In Vietnam, Boway has already established four facilities in Bac Giang province.

In addition to these investments, NeoSCM Co., Ltd. also proposed the establishment of a $50 million brake disc factory in An Phat 1 Industrial Park, Hai Duong. The factory is expected to commence operations by the end of 2024 and is estimated to create job opportunities for approximately 600 highly skilled personnel.