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Foxconn Investing $300 Million in Vietnam Manufacturing
Apple supplier Foxconn plans to invest some $300 million in its Vietnam manufacturing facilities in an effort to increase production.
Vietnam has been working to establish itself as a center for tech manufacturing. Reports surfaced last week that Apple is looking to move Apple Watch and MacBook production to the country for the first time ever. As a result, it’s not surprising that Apple’s biggest manufacturing partner is looking to expand its in-country production.
According to Reuters, “Foxconn has signed a $300 million memorandum of understanding with Vietnamese developer Kinh Bac City (KBC.HM) to expand its facility in the north of the country to diversify and boost production.”
Foxconn’s new factory will sit on 125 acres in the Bac Giang province and will reportedly create 30,000 jobs in the local economy.
Foxconn Investing $300 Million in Vietnam Manufacturing
Matt Milano
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