Foxconn to invest $700 million in Vietnam

Foxconn to invest $700 million in Vietnam
16:10 | 11/03/2021
Foxconn's investment of $700 million is expected to create 10,000 jobs for Vietnamese people
A representative of Foxconn said that by the end of 2020, the group has invested $1.5 billion in Vietnam.
One of the company's key projects is the $270 million factory of Fukang Technology in Bac Giang province, in which Foxconn Singapore Pte., Ltd. is the investor.
Fukang Technology is a subsidiary of Foxconn (also known as Hon Hai Precision Industry Company). It has been licensed to invest in building factories to manufacture 8 million MacBook and iPad products a year.
Foxconn's total revenue in Vietnam amounted to $3 billion in 2019, $6 billion in 2020, and could reach $10 billion this year. Foxconn's goal in the next 3-5 years is to increase sales in Vietnam to $40 billion.

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