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Foxconn to invest $700 million more in Vietnam

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

A company of Foxconn in Bac Giang Provine. .Photo ricons.vn

A company of Foxconn in Bac Giang Provine. .Photo ricons.vn

Foxconn started investing in Vietnam in 2007, mainly in Bac Ninh, Bac Giang and Vinh Phuc provinces.

The Apple supplier's total investment in Vietnam 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 Vietnam to $40 billion in the next three to five years.

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