Foxconn expands operation in Vietnam
VOV.VN - Foxconn, Apple’s largest contractor, has decided to pour US$62.5 million into a land lease contract in bac Giang province of Vietnam to expand its operation in Vietnam, according to South China Morning Post (SCMP).
The Taiwanese giant, formally known as Hon Hai Precision Industry, has signed the deal with Saigon – Bac Giang Industrial Park Corp. to occupy a plot of 45ha to ‘meet its operational needs and expand production capacity.
The site, located in the Quang Chau Industrial Park in Bac Giang province, was rented through Foxconn’s subsidiary Fulian Precision Technology Component Co. The lease will run through February 2057, the company said.
Foxconn signed a US$300 million agreement with a Vietnamese developer last August to build a new factory in Bac Giang to produce iPads and AirPods.
The firm’s latest deal in Vietnam comes after its iPhone factory in the central Chinese city of Zhengzhou was affected by pandemic control measures.
Many of Apple products are currently manufactured in Vietnam, such as AirPods, Apple Watch and some iPad models. Apple is also planning to move some MacBook Pro production lines to Vietnam by mid-2023.