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Foxconn to invest $700 million more in Việt Nam

Taiwanese electronics giant Foxconn has said it plans to invest an additional US$700 million in Việt Nam, reported Taiwan News.

Foxconn started investing in Việt Nam in 2007, mainly in Bắc Ninh, Bắc Giang and Vĩnh Phúc provinces.

The Apple supplier’s total investment in Việt Nam was $1.5 billion by December last year.

Foxconn’s total revenue in the Southeast Asian country reached $3 billion in 2019 and $6 billion last year and is expected to reach $10 billion this year. It also targets to add 10,000 jobs this year.

It expects to increase revenue in Việt Nam to $40 billion in the next three to five years. — VNS