Foxconn doubles investment in central Vietnam province to $200 mln
Fu Wing Interconnect Technology (Nghe An) Co. Ltd., a subsidiary of Foxconn, has doubled its investment in the central Vietnam province of Nghe An to $200 million.
WHA Industrial Zone Nghe An, the investor of WHA Industrial Zone 1, disclosed the information at a Friday meeting with Nghe An Vice Chairman Bui Thanh An, prior to the Lunar New Year holiday (Tet).
WHA Industrial Zone 1 is the investment destination of Foxconn, a supplier of Apple.
Nghe An Vice Chairman Bui Thanh An (holding box, right) at a meeting with WHA in Nghe An province, central Vietnam, January 17, 2025. Photo courtesy of Nghe An news portal.
Foxconn's project covers 49.7 hectares in WHA Industrial Zone 1 and is set to employ 17,000 people. The project is now under construction and is scheduled to come into operation in late 2025.
Foxconn originally received an investment registration certificate for the project, worth $100 million, in May 2023. The project's products include loudspeakers, earphones, wireless chargers, and connecting wires.
WHA, a leading industrial park developer in Thailand, now has two facilities in Nghe An province. WHA Industrial Zone 1 is already operational, while WHA Industrial Zone 2 was licensed in December 2024.
So far, the total registered capital of WHA industrial parks and its tenants is $1.4 billion, or 23.9% of Nghe An province's total FDI. Of this, over $140 million comes from WHA industrial parks themselves.
Earlier this month, WHA chairperson Jareeporn Jarukornsakul said WHA has invested $310 million in Vietnam since 2017 and aims to raise the figure to $1 billion.
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