Singapore's Division of Foxconn Awards two projects worth $246 Million to Vietnam

In accordance with the provincial authorities in Quang Ninh, Singapore's arm of Foxconn, the world's largest contract electronics producer and assembler, has been awarded a licence by Vietnam to invest $246 million in two projects.

The initiatives will focus on the production and assembly of telecom and electric car components, according to the announcement.

Hon Hai Precision Industry Co., Ltd., often known as Hon Hai Technology Group in China and Taiwan and Foxconn in the rest of the world, is a Taiwanese multinational electronics contract manufacturer headquartered in Tucheng, New Taipei City, Taiwan. The company's yearly sales in 2021 were 5.99 trillion New Taiwan dollars (US$175 billion), and it was rated 20th in the 2022 Fortune Global 500. It is the world's leading manufacturer and provider of technological services. While the corporation is located in Taiwan, the majority of its revenue is generated by assets in mainland China, and it is one of the world's greatest employers.