Taiwanese Foxconn Plans Cell-phone Plant in Northern Vietnam

Taiwan’s Foxconn International Holdings is planning to build a cell-phone factoryin the northern Vinh Phuc province as part of its business expansions in the local market.

 

Work on the 128-hectare facility is scheduled to start in March of 2008 and to be finished by January, 2009. It will generate 3,500 jobs for local people.

 

Total capital for the project has not been made available at the moment.

 

The company is completing necessary procedures for the investment, an official of Foxconn said, urging the local authorities to create more favorable conditions for the project.

 

Taiwan’s Foxconn, the world’s leading maker of outsourced electronics products expects to generate 300,000 jobs for Vietnamese and develop Vietnam into an IT hub in the world in the future, making the country the group’s third largest destinations in Asia just behind China and India. (Vietnam Post, Investment)