Foxconn plans $383 million investment in Vietnam circuit board plant
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Foxconn Secures $383 Million Investment Licence for Vietnam Factory
Foxconn Singapore has been granted a licence to invest $383 million in a new factory dedicated to producing printed circuit boards in Vietnam. This significant development was reported by state media on Monday.
Factory in Bac Ninh Province
Located in the northern province of Bac Ninh, the upcoming plant is projected to manufacture 2.79 million products annually. Despite the scale and implications of this investment, Foxconn, the global leader in contract electronics manufacturing and assembly, has yet to provide an official comment in response to the report.
Foxconn's Expanding Presence in Vietnam
The company's commitment to Vietnam is far from new. Since its initial investment in the country during the 2000s, Foxconn has poured over $3.2 billion into its Vietnamese operations. The majority of Foxconn’s manufacturing facilities are established in the northern provinces of Bac Ninh and Bac Giang, fostering a robust industrial presence in these areas.
Recent Projects and Future Plans
Earlier this month, Vietnamese state media revealed that Foxconn would be manufacturing 5G AirScale equipment for Nokia at its Bac Giang location, marking another significant milestone in their ongoing expansion and diversification within Vietnam.
