Apple supplier Foxconn invests $ 300 million in Vietnam

(ANSA) – ROME, AUGUST 22 – Foxconn, one of Apple’s largest suppliers for production and logistics, has decided to invest 300 million dollars for the construction of a new plant in Vietnam, in the northern province of Bac Giang, in the industrial park of Quang Chau, where he recently rented a 50-hectare lot. At the end of the investment, the group will hire about 30,000 workers, reports the newspaper Tuoi Tre News. The signing of the contract, which took place after rumors about the relocation of Macbook and Apple Watch production to Vietnam, met with the favor of local authorities, who reaffirmed their commitment to improving infrastructure and providing the best incentives to investors.

Foxconn, over the past fifteen years, has invested more and more in the Vietnamese industrial settlement, through various group companies such as Fuhong, Fuyu and Fukang, and is currently the largest foreign investor in Quang Chau park, with a total value of approximately 773 million dollars. As early as 2020, Foxconn had moved part of the iPad and AirPods production from China to Bac Giang province, like many other companies in Apple’s supply chain, which have decided to diversify their production to avoid dependence on a specific market. (HANDLE).

Source: Ansa

Martin

I have been working in the news industry for over 10 years now and I have worked for some of the biggest news websites in the world. My focus has always been on entertainment news, but I also cover a range of other topics. I am currently an author at Global happenings and I love writing about all things pop-culture related.