|Why Foxconn supposes to move some parts of production from China to Vietnam?|
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Located in the Quang Chau industrial park, Bac Giang provine, the factory is expected to produce around 8 million products per year. The project has a total registered investment capital of 6.233 billion VND, equivalent to 270 million USD.
Trac Hien Hong, Director General of Foxconn in Vietnam (Hong Hai Science and Technology Group in Vietnam) pledges to comply with the laws and advances recorded in the Investment Registration Certificate. He also expressed his desire to continue to support the region, ministries and agencies.
|Foxconn Vietnam Director General Trac Hien Hong (second person from left) receives Bac Giang provincial investment registration certificate. Image: Bac Giang newspaper.|
Foxconn on January 14 also held a meeting with Thanh Hoa provincial leaders to review and explore investment opportunities. Therefore, businesses are looking for locations with an area of 100-150 hectares, total investment capital of 1.3 billion USD, export sales of 10 billion USD per year. Therefore, Thanh Hoa is one of the options.
Leader Thanh Hoa said that the province has selected 7 industrial zones with a simple infrastructure system to meet the needs of the company. The province also promised to clear the land and hand over clean land to Foxconn for the implementation of the project. At the same time, Thanh Hoa is also committed to investing in building, connecting roads, information, water to the foot of the project fence.
Foxconn began investing in Vietnam in 2007, mainly in Bac Ninh, Bac Giang and Vinh Phuc. In 2019, the business expanded its investment in Quang Ninh and increased its investment scale in Bac Giang. By December 2020, Foxconn’s total investment in Vietnam is 1.5 billion USD. The company plans to raise its investment by 700 million and recruit 10,000 more local workers this year.
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