Foxconn Singapore has received approval to invest $551 million in two projects for manufacturing smart entertainment products and smart-system equipment in Vietnam's Quang Ninh province, according to sources.
The firm has put over $3.2 billion into Vietnam since its initial presence in the Southeast Asian nation in the 2000s. The majority of its factories are situated in the northern regions of Bac Ninh and Bac Giang. In the previous month, it was reported by Vietnamese state media that Foxconn had been granted a license to invest $383 million in a facility for manufacturing printed circuit boards.
As per the investment certificate, both projects are scheduled to finish construction by July, 2026. Following the installation and trial run of machinery, official production was scheduled to begin in May, 2027. Foxconn announced last year that it planned to put around $250 million into two new ventures in Quang Ninh, focusing on producing electric vehicle and telecom components.
Foxconn Singapore, a division of the Taiwanese company, has secured approval for a $263.7 million project to manufacture smart entertainment devices, with an annual production capacity of 4.18 million units. According to the paper, the upcoming project will produce smart-system equipment on a 12.4-hectare (30.64-acre) site with a $287.2 million investment.
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