CNA – Apple supplier Foxconn signed a USD300-million memorandum of understanding with Vietnamese developer Kinh Bac City to expand its facility in the north of the country to diversify and boost production, state media said yesterday.
The company’s new factory, on a plot of 50.5 hectares in Bac Giang province, will generate 30,000 local jobs, the Tuoi Tre newspaper said.
The move follows a report this week that Foxconn started test production of the Apple Watch in northern Vietnam.
Foxconn, which has been in Bac Giang for 15 years, moved part of its iPad and AirPods production to Bac Giang’s Quang Chau Industrial Park, Tuoi Tre reported. It did not say which type of products would be produced at the new factory or its capacity.
The Vietnamese government said last year Foxconn invested USD1.5 billion in the Southeast Asian country.