Foxconn Continues Expanding in Vietnam with Two New Projects

August 2023

In July 2023, the Provincial People’s Committee of Quang Ninh Province authorized two Foxconn projects worth more than USD 246 million. The two manufacturing facilities, namely the Foxconn Quang Ninh FMMV factory and the FECV Foxconn Quang Ning factory, will be conducted by Foxconn Singapore Pte Ltd.

According to Quang Ninh provincial authorities, the two plants will be located within Song Khoai Industrial Park of the province’s economic zone Quang Yen. The FECV Foxconn Quang Ninh plant covers 6.3 hectares and costs more than USD 197.8 million in total investment.

The FECV Foxconn Quang Ninh plant covers 6.3 hectares and costs nearly USD 200 million. The project targets to construct a factory specializing in the production and assembly of electrical accessories for electric vehicles. Once completed in January 2025, it is expected to employ 1,200 workers.

Meanwhile, the FMMV Foxconn Quang Ninh factory project spans 4.1 hectares and costs around USD 46.3 million, designed to increase the company’s capacity in manufacturing IT and communication products.

According to Foxconn’s representatives, both plants will implement technology products, machinery, and equipment imported from Japan, South Korea, mainland China, and Taiwan. With the latest authorization, Foxconn Group has poured more than USD 300 million into Quang Ninh province to execute three projects.

(Source: Viet Nam News)

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