Foxconn injects nearly US$250 million into Quang Ninh province

The move comes following the Quang Ninh Provincial People's Committee put on a ceremony on June 29 to grant investment registration certificates for Foxconn Singapore Pte Ltd’s two projects namely Quang Ninh FECV and Foxcon Quang Ninh FMMV.

Chau Nghia Van, deputy general director in charge of Foxconn Group in Vietnam, said after 16 years of development and investment in the nation, the group has selected Quang Ninh to deploy important production projects.

Covering a total area of 6.3 hectares, the FECV Foxconn Quang Ninh factory features a total registered investment capital of US$200.24 million and aims to manufacture and assemble electronics components, electric chargers, and electric charge controllers for electric vehicles (EVs).

Moving forward, the project is expected to be put into official operation in January, 2025, and will generate jobs for nearly 1,200 workers.

Meanwhile, the Foxconn Quang Ninh FMMV factory boasts a total investment of nearly US$46 million, with the ultimate goal of manufacturing and outsourcing components, molds, and components for information technology and communication products. The project is expected to put into operation ahead in October, 2024, and employ over 700 employees.

Foxconn represents a multinational corporation established back in 1974 with its headquarters located in Taiwan (China). Foxconn's factories are primarily aimed at assembling and manufacturing electronic products for major companies such as the United States, Canada, and China.

Their most prominent products include the Iphone, Ipad, and Ipod of Apple, as well as Kindle of Amazon and PlayStation of Sony.

At present, Foxconn owns R&D and production centres in various different countries around the world, including China, Japan, Vietnam, Malaysia, and is also the owner of nearly 55,000 invention licenses.