Foxconn to invest US$80 million in chip manufacturing expansion in Vietnam
Society – Economy - Ngày đăng : 20:22, 04/11/2024
The project will span a total planned area of 44,343.8 square metres within the Quang Chau Industrial Park.
The facility is being designed to manufacture electronic components, specifically integrated circuit boards, with a production capacity of 4.5 million units per year. All products will be exported to the US, EU and Japan.
According to the Environmental Impact Assessment Report, under review by the Ministry of Planning and Investment, Shunsin will contribute 20 million USD to the project, while 60 million USD, or 75% of the investment, will come from loans and fundraising.
Shunsin aims to finalise permits, including construction approval, by December, followed by facility construction and equipment installation through May 2026.
The project will start trialling in June 2026 and expects to be fully operational by December 2026.
The company states it will use advanced closed-loop technology, already implemented at its plants in China. The production lines will feature high automation levels, advanced technology and robust safety measures for workers, ensuring long-term operational stability and enhanced productivity.
At full capacity, the project will require about 1,450 employees, including 35 foreign experts.
Foxconn, a major supplier for tech giant Apple, is expanding its investment footprint in Vietnam. It began operations in Vietnam in March 2007 with initial facilities in Bac Ninh and Bac Giang, later expanding to Quang Ninh./