As one of “Queen bee” in North Vietnam with investments worth more than USD1.5 billion, and well-known as a top leading electronic components supplier in the world, Foxconn’s expansion plans have always drawn a lot of attention.
Photo: Hon Hai Precision Industry Vietnam, the local entity of Foxconn, was awarded an investment certificate from Quang Ninh province at an official Investment Registration Certificate Granting Ceremony. (Centered from left, holding the certificate): Mr. I-Wen Chou, Vice President of Hon Hai Precision Industry in Vietnam and Mr. Cao Tuong Huy, Acting Chairman of the People’s Committee of Quang Ninh province.
In a ceremony on 29 June, Foxconn has been awarded investment registration certificates from Quang Ninh province for two new investments of more than USD246 million in AMATA City Ha Long industrial park.
Both future factories will focus on assembling and processing electronics components, charger and controller components for electric vehicles and other devices on an area of 10.4 hectares of land at the AMATA estate, also known as Song Khoai Industrial Park. The factories expect to start production by the end of 2024 and beginning of 2025, respectively, creating employment opportunities for more than 1,700 people.
Photo from left: Mr. Nguyen Van Nhan, General Director of AMATA City Ha Long and Hon Hai Precision Industry President Mr. I-Wen Chou
Representatives of Foxconn, led by Mr. I-Wen Chou, Vice President of Hon Hai Precision Industry in Vietnam, and delegates from AMATA City Ha Long attended the ceremony which was presided over by Mr. Cao Tuong Huy, Acting Chairman of the People’s Committee of Quang Ninh province.
Vietnam’s North has been considered a favorable investment destination in the region due to the availability of land, a competitive, young workforce, attractive investment conditions as well as the government’s efforts to boost trade and stimulating the economy.
Since early 2023, AMATA City Ha Long in the country’s Northern Key Economic Region received over 60 inquiries from potential investors asking for more than 400 hectares of land.
AMATA City Ha Long has been cooperating very closely with Quang Ninh’s provincial administration to ensure that developments progress as planned and to provide highest quality infrastructure and services to investors.