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.
The northern province of Bac Giang is working hard to complete the target of attracting about 1.3 billion USD worth of investment in 2021, said Chairman of the provincial People’s Committee Le Anh Duong.
Foreign investors remain upbeat about Vietnamese market Chia sẻ | FaceBookTwitter Email Copy Link Copy link bài viết thành công
28/02/2021 08:29 GMT+7
Despite the recent resurgence of the COVID-19 pandemic, the majority of foreign businesses remain optimistic for 2021 with some expansion plans.
Foreign investors are seeing great prospects in Vietnam
Foreign investor Foxconn Singapore Pte., Ltd. has recently decided to pour an additional $23 million into the Fukang Technology Factory in the northern province of Bac Ninh, bringing the total investment capital of this project to $293 million. The project was granted investment licenses in mid-January.
Foxconn is recruiting 1,000 electronic assembly workers for its factories in Vietnam. Workers will work at the industrial parks (IP) of Dinh Tram, Quang Chau, and Van Trung in Bac Giang and Que Vo IP in Ba
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Cumulative monetary amount held:USD 350,000,000 Shareholding percentage:45.41% Restriction of rights:None 9.Current ratio of securities investment (including the current trade, as listed in article 3 of Regulations Governing the Acquisition and Disposal of Assets by Public Companies) to the total assets and equity attributable to owners of the parent as shown in the most recent financial statement and working capital as shown in the most recent financial statement as of the present: Ratio to total assets:11.34%; Ratio to owners equity:28.36%; Operating Capital:NTD-104,738,702,000 10.Concrete purpose or use of the acquisition or disposal:Long Term Investment 11.Whether the counterparty of the current transaction is a related party:Yes