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)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!


Next In Tech News

EU antitrust regulators want to know if Google and Samsung's chatbot deal hinders rivals
Exclusive-Apax, Bain and CVC exploring potential bids for SoftwareOne, sources say
Britain's new government aims to regulate most powerful AI models
US online sales hit $7.2 billion on first day of Amazon Prime Day event, Adobe says
Netflix's efforts to grow ad tier in focus as subscriber growth slows
Apple backs $50 million fund to support Bay Area affordable housing
US to award Taiwan's GlobalWafers up to $400 million to boost US semiconductor wafer production
Tokyo airport trials driverless cargo vehicle
China’s ‘rising star’ in chip design software cuts up to half its workforce amid market headwinds
Google-backed AI startup Cropin wants to predict future of food

Others Also Read