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Foxconn to pour $383 million into Bac Ninh factory
Apple's main supplier, Foxconn, will invest $383.3 million into a new factory specialising in producing printed circuit boards (PCB) in Bac Ninh province.
Bac Ninh People's Committee granted an investment registration licence to the FCPV Foxconn Bac Ninh project earlier in June. According to information released on June 17, Singapore-headquartered Foxconn Singapore PTE LTD, a subsidiary of Foxconn, will be the investor of the project.
The factory named FCPV Foxconn Bac Ninh specialises in manufacturing and assembling PCB with a total capacity of 2.79 million items per year, equivalent to 2,989 tonnes per year.
The factory covers a total area of 14.3 hectares in Nam Son - Hap Linh Industrial Park, which is owned by Kinh Bac City Development Holding Corporation.
Foxconn continues to expand its production in Vietnam, with a focus on computing products. In mid-June, Foxconn announced its partnership with Nokia to produce its 5G AirScale equipment at its factory in Bac Giang. Production is scheduled to begin in July, with a plan to increase production in September 2024.
Another subsidiary, ShunSin Technology, is planning to open a new subsidiary in Vietnam, costing $20 million.
In June 2023, Foxconn received investment certificates for two new projects in Quang Ninh, with a total capital of $250 million.
Foxconn entered the Vietnamese market in 2007 and has invested $3.2 billion in the country. As of present, the Taiwanese company has run factories in Bac Ninh, Bac Giang, and Quang Ninh, employing more than 60,000 workers, engineers and experts.
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