Japanese electronics firm Meiko plans to build a factory in northern Hoa Binh Province at a cost of VND4.66 trillion ($200 million) to produce printed circuit boards.

It plans to lease a 9.2-hectare plot of land in this northern province for its fourth plant in Vietnam. Local leaders have voiced support for the project.

Meiko first invested in Vietnam in 2006, building a factory in the suburban district of Thach That in Hanoi.

At that time it was one of the top 10 FDI projects in the country.

Meiko now has three printed circuit board factories in Vietnam that cost $500 million and employ 7,000 people.

One of Japan's leading electronics companies also has five factories in its home country and two in China.