Taiwan’s Foxconn Set to Invest $300 Million More in Vietnam

Taiwanese contract electronics manufacturer Foxconn, best known as the supplier for Apple, signed a memorandum of understanding worth $300 million with Vietnam’s Kinh Bac City to expand its facility in the country’s north to diversify and ramp up production.

The company’s expansion, on 50.5 hectares of land in Bac Giang province, is expected to generate 30,000 additional jobs.

The move comes days after a report that Foxconn has started test production of the Apple Watch in the North Vietnam facility.

Foxconn, which has been in Bac Giang’s Quang Chau Industrial Park for 15 years , has moved part of its iPad and AirPods production there. The company has not revealed what type of products would be produced at the new factory or its capacity.

The Vietnamese government said last year Foxconn had invested $1.5 billion in the country.

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now


Do you need to access special insights on this matter?

Start your 7-day free trial  and become a member today


Subscribe to Top Insights Today

Subscribe to Executive Newsletter Top Insights Today

The Executive Newsletter -Top Insights Today- puts global business events in perspective through special insights

Join the ranks of global executives and subscribe to Top Insights Today

Top Insights Today covers insights on energy, clean-tech, oil&gas, mining, rare earths, defense, aviation, infrastructure, manufacturing, electrical vehicles, big-tech, finance and politics of business

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

Special Report-Huawei and ZTE Marked as National Security Threats

US Federal Communications Commission (FCC) has designated Chinese telecommunication giants Huawei and ZTE as security threats to the country.

White House Warns the Chip Industry of Possible Russian Retaliation

The Biden administration is warning the U.S. chip manufacturers of a retaliation should U.S. imposes economic sanctions on Russia. The White House wanted the semiconductor industry to diversify supplies in case Russia blocks access to key materials. 

Switzerland Emulates EU to Sanction Russian Gold

The Swiss government imposed further sanctions on Russia over its invasion of Ukraine, following the European Union’s latest ban on Russian gold and gold products. Switzerland also made two nex exemptions regarding transactions of agricultural products and oil supplies to third countries in order to avert disruptions in payment channels, once again in line with the EU measures. 

Stay informed

error: This content is protected !!