Apple supplier Foxconn to invest $300 mn more in Vietnam

Apple supplier Foxconn has signed an agreement with developer Kinh Bac City in order to expand its facility in Vietnam to boost production by making an investment of $300 million.
Apple supplier Foxconn
The Taiwanese company’s new factory, on a plot of 50.5 hectares (125 acres) in Bac Giang province, will generate 30,000 local jobs, according to state media reports.

The move follows a report this week that Foxconn has started test production of the Apple Watch in northern Vietnam.

Foxconn, which has been in Bac Giang for 15 years, has moved part of its iPad and AirPods production to Bac Giang’s Quang Chau Industrial Park. It did not say which type of products would be produced at the new factory or its capacity.

The Vietnamese government said last year Foxconn had invested $1.5 billion in the Southeast Asian country.