Taiwan's Foxconn Seeking to Invest US$5Bln in Vietnam

Foxconn Group of Taiwan, listed as the world’s largest maker of outsourced electronics products in 2006, is seeking the permission from the Vietnamese Ministry of Planning and Investment to invest US$5 billion in the country, Tuoi Tre (Youth) newspaper reported.

 

The group will build plants specializing in hi-tech products, trade centers, offices and apartments for hire with capital scale from $400 million and $1 billion in Ho Chi Minh City, Hanoi, Danang, Vinh Phuc, Bac Ninh and Bac Giang each. It also plans to set up a border trade zone in Lang Son province.

 

Those projects are expected to offer jobs for some 50,000 workers and create export revenue of around $3.5 billion each year.

Foxconn, the trade name for Hon Hai Precision Industry Co. Ltd as Taiwan’s largest technology company, is also the biggest manufacturer of connectors for use in PCs in Taiwan, and a leading maker of connectors and cable assemblies in the world. It obtains average annual turnover of more than $50 billion. (Youth)