Foxconn the world's largest contract electronics maker and assembler, did not immediately respond to a request for comment. The company already has major operations in Vietnam.

Through its unit Foxconn Singapore, the Taiwanese giant has been awarded a licence for a $263.7 million project to produce smart entertainment products with an annual capacity of 4.18 million units per year, the Quang Ninh newspaper reported.

The second project with an investment of $287.2 million and on an area of 12.4 hectares (30.64 acre), will make smart-system equipment, the paper said.

According to the investment certificate, the two projects will complete construction in July, 2026. After a period of machinery installation and trial operation, they were due to launch official production in May, 2027.

Last year, Foxconn said it would invest about $250 million in two new projects in Quang Ninh to make electric vehicle and telecom parts.

Foxconn has invested more than $3.2 billion in Vietnam since first entering the Southeast Asian country in the 2000s. Most of its manufacturing plants are located in the northern provinces of Bac Ninh and Bac Giang.

Last month, Vietnamese state media said Foxconn has also been awarded a licence to invest $383 million in a factory to produce printed circuit boards.

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India Prime Minister Narendra Modi has encouraged large companies to invest in Vietnam with focus on digital transformation and energy.

Bac Giang to invest over 636,000 USD on national highway 279 passing Luc Ngan

BAC GIANG – Due to the severe degradation of national highway 279 passing Luc Ngan district, the Department of Transport in Bac Giang province has prepared conditions to start repairing the road surface and bed as well as items on route.

Bac Giang prioritizes to invest in Quang Chau 2 industrial park

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Lang Giang to invest over 5 million USD in central urban area of Voi town

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PM calls on Chinese group to invest in transport infrastructure projects

Vietnam always welcomes foreign investors, including those from China, in the spirit of “harmonious interests, shared risks,” Prime Minister Pham Minh Chinh has affirmed.

Source: VnExpress