Foxconn to invest in $40-million assembly factory in Quang Ninh

The TV assembly factory is to be built on a 10-hectare land in Dong Mai Industrial Park on a total investment capital of $40 million for its first phase, according to Foxconn Vietnam general director Harry Zhuo, who met with the Quang Ninh People’s Committee last week.

Zhuo noted that Quang Ninh has got what it takes to offer investors a promising investment destination with modern and synchronised infrastructure. The multinational electronics manufacturer would thus desire to grab a piece of the opportunity to expand its investment in the country.

Zhuo expressed his hope for the plant to be soon be approved by the local authorities, stressing that the establishment of it will become a basis for Foxconn’s additional investments in the province in the near future.

Vice chairman of the Quang Ninh People’s Committee Nguyen Van Thang committed to supporting the company along the way with the required administrative procedures, so that Foxconn can receive the investment certificate as soon as possible. The province also noted that it will create favorable conditions for Foxconn to attract the labor resources for the construction process and operation.

Foxconn, or Hon Hai Precision Industry Co., Ltd., was founded in 1974 in Taiwan and has become the world’s largest provider of electronics manufacturing services. The company built its first factory in Vietnam in March 2007. It now has three plants in Bac Ninh and Bac Giang provinces.