Foxconn Singapore has been permitted to invest $551 million in two big projects in Vietnam’s northern province of Quang Ninh. This news, reported by state media, shows how Foxconn is expanding its presence in Southeast Asia.
Foxconn is the world’s largest company that makes and assembles electronics for other companies, it already has a strong presence in Vietnam with many operations across the country.
The first project, which will cost $263.7 million, will focus on making smart entertainment products. This project aims to produce 4.18 million units each year. This information was shared by the Quang Ninh newspaper, highlighting the project’s large scale and ambition.
The second project will cost $287.2 million and will cover an area of 12.4 hectares (about 30.64 acres). This project will be dedicated to manufacturing smart-system equipment. This will add to Foxconn’s varied production capabilities in Vietnam.
Construction for both projects is expected to be finished by July 2026, according to the investment certificate. After construction, there will be a period for setting up machinery and trial operations, with official production starting in May 2027.
This is not the first time Foxconn has invested heavily in Quang Ninh. Last year, the company announced plans to invest around $250 million in two new projects in the province to produce parts for electric vehicles and telecom equipment. These efforts are part of Foxconn’s larger strategy to expand its manufacturing capabilities in Vietnam.
Foxconn has been in the Vietnamese market since the 2000s and has invested over $3.2 billion in the country. Most of its manufacturing plants are in the northern provinces of Bac Ninh and Bac Giang, which have become important hubs for the company.
Besides the new projects in Quang Ninh, Foxconn has also been active in other parts of Vietnam. Last month, state media reported that the company received permission to invest $383 million in a factory to produce printed circuit boards. This investment further shows Foxconn’s commitment to growing its manufacturing base in Vietnam.
Foxconn’s ongoing investments in Vietnam highlight the country’s importance as a manufacturing hub for global electronics companies. Vietnam offers many benefits for companies looking to diversify their production bases, including a favorable investment climate, a skilled workforce, and a strategic location.
As Foxconn Singapore proceeds with these ambitious projects, Vietnam’s role in the global electronics supply chain is expected to become even stronger. These investments not only boost the local economy but also enhance Vietnam’s reputation as a key player in high-tech manufacturing.
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