HANOI: Apple provider Foxconn has signed a $300 million memorandum of understanding with Vietnamese developer Kinh Bac Metropolis to develop its facility within the north of the nation to diversify and increase manufacturing, state media stated.
The Taiwanese firm’s new manufacturing unit, on a plot of fifty.5 hectares (125 acres) in Bac Giang province, will generate 30,000 native jobs, the Tuoi Tre newspaper stated.
Foxconn, formally known as Hon Hai Precision Business Co, and Kinh Bac Metropolis didn’t instantly reply to requests for remark.
The transfer follows a report this week that Foxconn has began check manufacturing of the Apple Watch in northern Vietnam.
Foxconn, which has been in Bac Giang for 15 years, has moved a part of its iPad and AirPods manufacturing to Bac Giang’s Quang Chau Industrial Park, Tuoi Tre reported. It didn’t say which sort of merchandise could be produced on the new manufacturing unit or its capability.
The Vietnamese authorities stated final 12 months Foxconn had invested $1.5 billion within the Southeast Asian nation.
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