FOXCONN Singapore has been awarded a licence to invest US$383 million in a factory to produce printed circuit boards in Vietnam, state media reported on Monday (Jun 24).
The plant in the northern province of Bac Ninh will produce 2.79 million products a year, Cong Thuong newspaper reported.
Foxconn, the world’s largest contract electronics maker and assembler, did not immediately respond to a Reuters request for comment on the report.
Foxconn has invested more than US$3.2 billion in Vietnam since fist entering the South-east Asian country in the 2000s. Most of its manufacturing plants are located in the northern provinces of Bac Ninh and Bac Giang.
Earlier this month, Vietnamese state media said Foxconn will produce 5G AirScale equipment for Nokia at Bac Giang. REUTERS
