Foxconn to invest $383 million in circuit board factory in Vietnam, state media says

HANOI (Reuters) – Foxconn Singapore has obtained a license to invest $383 million in a printed circuit board production plant in Vietnam, state media reported on Monday.

The factory located in the northern province of Bac Ninh will produce 2.79 million products per year, Cong Thuong newspaper reported.

Foxconn, the world’s largest contract manufacturer and assembler of electronics, did not immediately respond to a Reuters request for comment on the report.

Foxconn has invested more than $3.2 billion in Vietnam since first entering the Southeast Asian country in the 2000s. Most of its manufacturing plants are located in the northern provinces of Bac Ninh and Bac Giang.

Earlier this month, Vietnamese state media said Foxconn would produce 5G AirScale equipment for Nokia in Bac Giang.

(Reporting by Khanh Vu; editing by Susan Fenton and Alexander Smith)

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