HANOI: Apple provider Foxconn has signed a $300 million memorandum of comprehension with Vietnamese developer Kinh Bac City to grow its facility in the north of the nation to diversify and improve production, condition media explained.
The Taiwanese firm’s new manufacturing facility, on a plot of 50.5 hectares (125 acres) in Bac Giang province, will make 30,000 neighborhood jobs, the Tuoi Tre newspaper explained.
Foxconn, formally named Hon Hai Precision Sector Co, and Kinh Bac City did not instantly respond to requests for comment.
Foxconn, which has been in Bac Giang for 15 several years, has moved part of its iPad and AirPods manufacturing to Bac Giang’s Quang Chau Industrial Park, Tuoi Tre noted. It did not say which style of goods would be generated at the new manufacturing unit or its capacity.
The Vietnamese federal government stated previous year Foxconn experienced invested $1.5 billion in the Southeast Asian nation.