Apple Supplier Foxconn to Invest $300 Million More in Northern Vietnam, State Media Reports

Apple Supplier Foxconn to Invest $300 Million More in Northern Vietnam, State Media Reports
A motorist passes by a Foxconn office building in Taipei, Taiwan, on July 14, 2020. Ann Wang/Reuters
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HANOI—Apple supplier Foxconn has signed a $300 million memorandum of understanding with Vietnamese developer Kinh Bac City to expand its facility in the north of the country to diversify and boost production, state media said on Saturday.

The Taiwanese company’s new factory, on a plot of 50.5 hectares (125 acres) in Bac Giang province, will generate 30,000 local jobs, the Tuoi Tre newspaper said.