Taiwanese contract manufacturer Hon Hai Precision Industry Co. Ltd., better known as Foxconn, is set to expand its operations in Vietnam with a significant $80 million investment. This move signals the company’s commitment to diversifying its production base and further strengthens its position as a major player in the global electronics manufacturing landscape.
Foxconn, a leading supplier to tech giants like Apple, will be making this investment through its subsidiary, Shunsin. The investment will see the construction of a new integrated circuit manufacturing plant in Vietnam’s Bac Giang province. This facility is expected to begin full-scale operations by December 2026, targeting an annual output of 4.5 million units.
This expansion follows Foxconn’s recent approval to invest $383 million in another facility in Vietnam for printed circuit boards, demonstrating the company’s strong commitment to the Vietnamese market.
The products manufactured at the new integrated circuit plant will primarily be exported to the United States, the European Union, and Japan. This strategic focus on key markets will allow Foxconn to further expand its global reach and solidify its position as a leading manufacturer in the electronics industry.
Foxconn’s investments in Vietnam are a testament to the country’s growing appeal as a manufacturing hub. The government has been actively promoting the country as a destination for foreign investment, particularly in the technology sector. Vietnam offers a skilled workforce, competitive costs, and a strategic location for accessing major global markets, making it an attractive option for companies like Foxconn seeking to expand their operations.
Since entering the Vietnamese market in the early 2000s, Foxconn has invested over $3.2 billion in the country, with most of its facilities located in the northern provinces of Bac Ninh and Bac Giang. This latest investment reinforces the company’s confidence in the Vietnamese economy and its potential for continued growth.
This expansion is a significant development for both Foxconn and Vietnam. It highlights the increasing importance of Vietnam as a global manufacturing hub and underscores Foxconn’s strategy of diversifying its production base to meet the growing demand for electronic products.
