Foxconn Gets License To Build $270 Million Laptop Plant In Vietnam
Taiwanese manufacturing company, Foxconn has been awarded a license to build a $270 million plant to produce laptops and tablets in Vietnam according to the Vietnamese government said. Foxconn manufactures and supplies parts and products for companies like Apple, Sony, Microsoft, and more.
The company has so far invested $1.5 billion in Vietnam and it has plans to invest a further $700 million. The investments will translate to recruiting 10,000 more local workers this year, according to the Vietnamese government.
Fukang Technology is to develop the plant which will be located in the northern province of Bac Giang. On the government website, it claims that it will produce eight million units annually.
– Government Permits Huawei To Participate in 5G auction
– See Why Apple Is Telling Foxconn To Move Manufacturing Its Products From China To Vietnam
– Foxconn Launches Automobile Platform, Wants To Be Android Of Electric Cars
The move to invest in Vietnam shows the impact of the US-China trade war on the manufacturing sector. President Trump had issued executive orders banning the use of US technology in CHina thus making manufacturing difficult for companies situated in the Asian country.
Foxconn is to move some of its iPad and MacBook assembly to Vietnam from China at the request of Apple Inc, Reuters reports citing an internal source. The report says Apple is diversifying its production to minimise the impact of the trade standoff.
Vietnamese state media also reported recently that Foxconn is also looking into separately investing $1.3 billion in Thanh Hoa province. Thanh Hoa province is in the south of Hanoi, capital of Vietnam.
For your daily dose of tech, lifestyle, and trending content, make sure to follow Plat4om on Twitter @Plat4omLive, on Instagram @Plat4om, on LinkedIn at Plat4om, and on Facebook at Plat4om. You can also email us at firstname.lastname@example.org and join our channel on Telegram at Plat4om. Finally, don’t forget to subscribe to our YouTube channel HERE.