Foxconn pours US$270 million into Bac Giang project

VOV.VN - The Bac Giang Provincial People's Committee on January 18 granted investment registration certificates to four projects by three foreign investors from Asia, including Foxconn’s US$270 million project.

The Fukang Technology Factory project by Foxconn Singapore PTE Ltd in Quang Chau Industrial Park aims to both manufacture and outsource tablets and laptops. The production line is set to be built with a design capacity of reaching roughly eight million products annually.

Zhuo Xianhong, general director of Foxconn Group in Vietnam, said as of December, 2020, the firm’s total investment capital in the nation hit US$1.5 billion, including US$900 million in  Bac Giang alone, thereby creating jobs for over local 35,000 workers.

This year the group is anticipated to increase investment capital by US$700 million, serving to generate an additional 10,000 jobs in the process.

Three other projects receiving investment licenses this time include a US$210 million project on Ja Solar PV Vietnam photovoltaic cell technology by Ja Solar Investment (Hong Kong) Limited, a US$75 million project on Vietnam Risesun New Material Factory, and a US$6 million project on Kodi New Material Vietnam Factory by Risesun Investment PTE of Singapore.

Le Anh Duong, chairman of the Bac Giang Provincial People's Committee, affirmed that the province will provide the optimal conditions possibly, mainly by providing technical infrastructure and simplifying administrative procedures for investors in order to facilitate their operations within the locality.

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Foxconn to inject US$270 million to expand production in Vietnam
Foxconn to inject US$270 million to expand production in Vietnam

VOV.VN - As part of the world's largest financial publication, Nikkei Asia has recently published an article which unveils Foxconn’s plans to expand production in the nation with an investment of approximately US$270 million.

Foxconn to inject US$270 million to expand production in Vietnam

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Will Foxconn's expansion lead to iPhone production in Vietnam?
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Will Foxconn's expansion lead to iPhone production in Vietnam?

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The expansion of Foxconn's investment in Vietnam may lead to the eventual production of iPhones in the country.