Vietnam licenses Foxconn’s $270 million plant to produce laptops, tablets

Foxconn

The Vietnamese government said on Monday that it has awarded a licence to a unit of Taiwan’s Foxconn Technology Co Ltd to build a $270 million plant to produce laptops and tablets.

The government said on its website that the plant, to be developed by Fukang Technology, will be located in the northern province of Bac Giang and will annually produce eight million units.

The government also claimed that Foxconn has so far invested $1.5 billion in Vietnam and plans to raise its investment by $700 million and recruit 10,000 more local workers this year.

Separately, state media reported last week Foxconn was also looking into investing $1.3 billion in Thanh Hoa province, 160 km (99.42 miles) south of Hanoi.

In an earlier development in November, sources with the knowledge of the matter said that Foxconn was moving some iPad and MacBook assembly to Vietnam from China at the request of Apple Inc, as the U.S. firm diversifies production to minimise the impact of Sino-U.S. trade tensions.

Foxconn did not immediately respond to an email seeking comment.

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