On June 6th, the People's Committee of Bac Ninh Province approved the FCPV Foxconn Bac Ninh project at the Nam Son – Hap Linh Industrial Park. The scale of this project is rumoured to be around 14 ha of land and nearly USD 400 million in total investment

One of the current Foxconn's manufacturing complexes in Vietnam

This move is part of the Taiwanese giant's active expansion in Vietnam. Earlier, in June 2023, Foxconn received an investment certificate for $250 million for two electric vehicle component factories in Quang Ninh. Additionally, there are reports that Foxconn’s subsidiary, ShunSin Technology, plans to invest $20 million to establish a new semiconductor company named ShunSin Technology (Vietnam).

In addition to these projects, Foxconn currently operates factories in various industrial parks, including Que Vo, Dai Dong – Hoan Son, and VSIP in Bac Ninh; Dinh Tram, Van Trung, and Quang Chau in Bac Giang; and Dong Mai in Quang Ninh, employing over 60,000 workers, engineers, and specialists.

As of February 2024, Foxconn has invested $3.2 billion in Vietnam.

Founded in Taiwan in 1974, Foxconn is the world leader in electronic manufacturing services (EMS), holding more than 40% market share across consumer electronics, cloud computing, computing devices, components, and other sectors. It is also Apple's largest supplier.

The group first ventured into Vietnam in 2007, starting with a factory in the Que Vo Industrial Park. Speaking about their direction in Vietnam, Chau Nghia Van, Deputy General Director of Foxconn in Vietnam, said: "We will continue our 3+3 strategy in the Vietnamese market, focusing on three emerging industries: electric vehicles, digital healthcare, and robotics; leveraging three new technology applications: artificial intelligence, semiconductors, and communication technology."

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