Taiwanese firm plans $3 billion high-tech investment in Vietnam
Taiwan’s Foxconn, the world’s leading maker of outsourced electronics products, plans to build factories in two northern Vietnamese provinces.
It chose Bac Ninh and Bac Giang following a visit there by chairman and CEO, Terry Gou.
Foxconn, which manufactures world-famous products like Nokia cell phones, iPod music players, PlayStation 2 game consoles, and Sony Laptop, will invest US$3 billion in these two plants.
Under a plan it discussed with the leaders of the two provinces, Foxconn is likely to build a 1,000 ha complex in Bac Ninh including a hi-tech park, township, golf course, hospital, and entertainment park.
In Bac Giang too it will build a similar, 1,500 ha complex.
The two facilities will churn out computers and communications and consumer electronic products.
In their first two years of full operation, the plants will generate some $3.5 billion a year in exports.
Foxconn has signed a contract for leasing 50,000 sq.m in Bac Ninh’s Que Vo Industrial Park.
It expects to get the land in April and start operation in May.
The group is also looking for areas in southern and central Vietnam to build two hi-tech parks.
Foxconn, the trade name for Hon Hai Precision Industry Co., Ltd., exports some $45 billion worth items each year, with 80 percent coming from facilities in China. |
