The US$170 million factory is to be built at the Da Nang High-tech Park and will be the first of its kind in Vietnam.
The facility is capable of manufacturing and assembling 4,000 among 5 million components of an aircraft, with all of its products to be exported.
Once operational, it is estimated that its annual export revenues will reach US$25 million by 2021, US$85 million by 2022 and US$180 million after 2026.
UAC is planning to employ 1,200 skilled workers in the fields of mechanics, automation and electrics, as well as developing a chain of satellite enterprises to provide support services, which in turn will create more than 2,000 jobs.
According to Kevin Loebbaka, COO of UAC Global, the factory will provide components for aircraft manufacturers and airlines around the world.
Under the plan, the first phase of the facility will be completed in January 2020 and the first products will be exported in June of the same year.
