Foxconn invests 246 mln USD in two new projects in Vietnam

The northeastern province of Quang Ninh recently approved two Foxconn projects totalling more than 246 million USD in investment.

Thursday, July 06, 2023 15:31

Foxconn invests 246 mln USD in two new projects in Vietnam ảnh 1

Quang Ninh province's leader granted the investment registration certificate to Foxconn. (Photo vneconomy.vn)

Hanoi (VNS/VNA) – The northeastern province of Quang Ninhrecently approved two Foxconn projects totalling more than 246 million USD ininvestment.

Foxconn Singapore Pte Ltd will carry out two projects,namely the Foxconn Quảng Ninh FMMV factory and the FECV Foxconn Quang Ninhfactory.

Both factories will be located in the Song Khoai Industrial Park in the coastaleconomic zone of Quang Yen.

The FECV Foxconn Quang Ninh plant project spans 6.3 hectares and has a totalinvestment capital of more than 4.7 trillion VND (197.8 million USD).

The project aims to establish a factory specialising in the production andassembly of electrical accessories for electric vehicles. Once the factory iscompleted in January 2025, it is expected to employ some 1,200 workers.

Meanwhile, the FMMV Foxconn Quang Ninh plant project covers 4.1 hectares andhas a total investment of roughly 1.1 trillion VND (46.3 million USD).

The factory is built to produce IT and communication products.

A Foxconn spokesman said that the technological lines, machinery, and equipmentemployed by both facilities are from Japan, the Republic of Korea, mainlandChina, Taiwan (China), and Vietnam.

The recent announcement means Foxconn Group's total investment in Quang Ninhprovince now spans to three projects, worth more than 300 million USD./.

VNA

#Quang Ninh #Foxconn #FMMV Foxconn Quang Ninh #IT and communication products #Vietnam #Vietnam news #Vietnam News Agency Quang Ninh

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