Apple supplier leases 50.5 ha of land for $300-mln plant in Bac Giang province

Foxconn, a manufacturer for Apple products, has leased 50.5 hectares of land in the northern province of Bac Giang to build a $300-million plant.

The new factory is projected to employ 30,000 workers, Kinh Bac Urban Development Corporation, an industrial property developer, which operates Quang Chau Industrial Park where Foxconn has decided to invest, made the statement.

Representatives of Foxconn signed a Memorandum of Understanding over the cooperation with leaders of Saigon - Bac Giang Industrial Park JSC, a subsidiary of Kinh Bac Urban Development Corporation on Monday.

Entering Quang Chau Industrial Park, Foxconn has become the largest FDI enterprise with projects starting from 2019. It has a total area of leased land of 69.82 ha.

The Apple supplier's total registered investment capital has reached $773 million. The project of Foxconn has been making a significant contribution to the development of Quang Chau Industrial Park in particular and the economic and social development in general of Bac Giang province.

Quang Chau Industrial Park has attracted 41 investment projects, including 37 FDI projects, and 4 domestic investment projects with a total investment capital of up to $20.8 billion, creating jobs for about 67,000 workers.

Foxconn and another Apple supplier, Luxshare Precision Industry, have started test production of the Apple Watch and MacBook in northern Vietnam and plan to produce them for the first time in the country.