Foxconn to invest $383 million in Vietnam circuit board plant, says state media


FILE PHOTO: Foxconn logo is seen in this illustration taken, May 2, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

HANOI (Reuters) - Foxconn Singapore has been awarded a licence to invest $383 million in a factory to produce printed circuit boards in Vietnam, state media reported on Monday.

The plant in the northern province of Bac Ninh will produce 2.79 million products a year, Cong Thuong newspaper reported.

Foxconn, the world's largest contract electronics maker and assembler, did not immediately respond to a Reuters request for comment on the report.

Foxconn has invested more than $3.2 billion in Vietnam since fist entering the Southeast Asian country in the 2000s. Most of its manufacturing plants are located in the northern provinces of Bac Ninh and Bac Giang.

Earlier this month, Vietnamese state media said Foxconn will produce 5G AirScale equipment for Nokia at Bac Giang.

(Reporting by Khanh Vu; Editing by Susan Fenton and Alexander Smith)

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