Foxconn unit receives business license for $270 mln Vietnam plant

Foxconn General Director Harry Zhuo said as of December 2020, the company had invested US$1.5 billion in Vietnam, including US$900 million in Bac Giang Province, creating jobs for 35,000 people. It will be responsible for producing up to eight million units each year as per a statement by the local government.

The plant will be developed by Fukang Technology, reports Reuters a subsidiary set up by Foxconn for the project.

Apple wants to diversify its supply chains away from China and move some of its iPad and MacBook assembly to Vietnam. This latest plant will be built in the northern province of Bac Giang, according to the report. Foxconn Technology, the identified Apple supplier, has previously invested about 1.5 billion US Dollars in Vietnam and aims to recruit about 10,000 additional regional employees inside of this calendar year. Last November saw the group launch the first products made at its factory in the northern province of Quang Ninh - LED monitors for export.

The Foxconn project is one of four projects given the greenlight by the Bac Giang authorities on January 18, with a total investment of US$570 million. The plant will make around 8 million products yearly.

Foxconn is set to build a new factory to produce tablets and computers in Vietnam, which could be part of Apple's plan to widen its iPad and MacBook production lines outside of China.