Foxconn will invest $300 million to expand North Vietnamese factory

Key Apple supply chain partner Foxconn is planning on investing $300 million to expand its manufacturing facility in Northern Vietnam in an effort to boost production.

Foxconn plant Foxconn plant

The Apple supplier signed a memorandum of understanding with Vietnamese developer Kinh Bac City to invest the money and expand its existing plant. Foxconn’s new factory is built on 125 acres in Bac Giang province. According to local media, the new manufacturing plant will generate 30,000 jobs in the area.

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