Foxconn looks to up the ante on investment in Vietnam

By Quynh Chi - Mar 21, 2019 | 02:33 PM GMT+7

TheLEADERAfter more than a decade of operation in Vietnam, the Taiwanese electronics giant is considering Quang Ninh province as the next investment destination.

Foxconn Vietnam general director Harry Zhuo met Quang Ninh provincial People’s Committee vice chairman Nguyen Van Thang yesterday to seek investment opportunities.

Zhou said the company was operating production factories in Bac Ninh, Bac Giang and Vinh Phuc provinces and it was looking to expand investment in Vietnam. 

He said Quang Ninh was offering good investment opportunities as it has built modern and synchronized infrastructure, which is luring big investors.

Quang Ninh recently opened three key infrastructural works, including Van Don international airport, Halong international tourist seaport and Halong - Van Don expressway. 

The travel time between Quang Ninh and Haiphong has also been shortened significantly owing to the construction of Halong - Haiphong expressway and Bach Dang bridge. 

Foxconn entered Vietnam in 2007 with a signing of a $5 billion investment framework, pledging to invest in a series of projects in the hi-tech sector and supporting industries.

Foxconn is the world’s biggest electronics contract manufacturer and a key Apple Inc supplier. It was reported late last year to be considering setting up a factory in Vietnam to mitigate any impact of an ongoing trade war between the United States and China.