Apple Officially Said Foxconn will Invest Another $300 Million in Vietnam

According to a report on Aug. 20th, Apple’s official media said that the largest supplier of Apple products in Taiwan, Taiwan’s Foxconn Company had teamed up with Vietnamese developer Kinh Bac City (KBC. HM) and signed a $300 million memorandum to expand Foxconn’s factory in northern Vietnam to diversify processing and increase production capacity.

According to Vietnamese news, Taiwan’s Foxconn company’s new plant, located in Bac Giang province, covers an area of 50.5 hectares (125 acres) and will create 30,000 jobs in Vietnam. The Vietnamese Government said last year that Foxconn had invested $1.5 billion in the Southeast Asian country.

The newspaper reported that Foxconn has been investing in Beijing for 15 years and has transferred some of its iPad and AirPods production to the Guangzhou Industrial Park in Beijing. Previously, it was reported that Foxconn had begun trial production of Apple Watch in northern Vietnam.

Apple officials did not say what type of products the new plant will produce or its planned capacity.

Picture of Aussie Brief News
Aussie Brief News

Go to First Page and Get the Latest News.

Translator: MOS Writing Group team
Design&editor: HBamboo(昆仑竹)

Leave a Reply

Your email address will not be published. Required fields are marked *