Foxconn plans to expand product portfolio at $200 mln plant in central Vietnam

By Hai Yen
Wed, May 7, 2025 | 3:35 pm GMT+7

Fu Wing Interconnect Technology (Nghe An) Co., Ltd., a subsidiary of Taiwan-based electronics giant Foxconn, plans to expand the range of products at its $200 million factory in Vietnam’s central province of Nghe An.

The under-construction plant covers 49.7 hectares in WHA Industrial Zone 1, Nghi Loc district. With an annual capacity of 1.51 billion units, it will produce loudspeakers, earphones, wireless chargers, connecting wires, and plastic pellets.

A Foxconn factory in Bac Giang province, northern Vietnam. Photo courtesy of Bac Giang TV.

A Foxconn factory in Bac Giang province, northern Vietnam. Photo courtesy of Bac Giang TV.

However, according to its environmental impact assessment report, Fu Wing stated that the plant’s current output does not fully align with its production capabilities or consumer demand. As a result, the company is adjusting its product portfolio.

Specifically, the company has reduced its plastic pellet production capacity from 20,433 tons to 2,000 tons per year and introduced several new products.

These include, by annual capacity: six million plastic trays, eight million plastic packaging tapes, five tons of metal sheets, 62.3 million photoelectric converter modules, 3.4 million printed circuit boards (PCBAs), 15.6 million connecting accessories, 1.5 tons of smart key batteries, and other items.

Phase one of the project is scheduled to begin operations in October 2025, with phase two expected in September 2026. However, according to the report, progress may be delayed by six to 12 months due to legal issues.

Once fully operational, the plant is expected to employ 25,000 workers.

In June 2024, Brand Cheng, president and CEO of Foxconn Industrial Internet, stated that the Taiwanese electronics firm had invested $4 billion across five provinces in Vietnam.

Comments (0)
  • Read More
Sumitomo okayed to build 4th industrial park in Vietnam

Sumitomo okayed to build 4th industrial park in Vietnam

With an industrial park to develop in the central province of Thanh Hoa, Japan's Sumitomo will expand its industrial real estate portfolio in Vietnam to four projects amid rising FDI inflows.

Industrial real estate - Wed, May 7, 2025 | 2:16 pm GMT+7

Vietnam upholds 8% GDP growth target despite US tariff turmoil

Vietnam upholds 8% GDP growth target despite US tariff turmoil

The Vietnamese Government is persistent with its 8% growth goal though disadvantages outweigh advantages, with a focus on solutions to respond to U.S. reciprocal tariffs, PM Pham Minh Chinh told a cabinet meeting on Tuesday.

Economy - Wed, May 7, 2025 | 12:42 pm GMT+7

Vietnam's sugar major Quang Ngai Sugar JSC posts lowest Q1 profit in 2 years

Vietnam's sugar major Quang Ngai Sugar JSC posts lowest Q1 profit in 2 years

Quang Ngai Sugar JSC, owner of famous soy milk brand Fami in Vietnam, reported its weakest Q1 profit in two years as its sugar business struggled under pressure from smuggled and imported sugar, though the soy milk segment continued to support revenue.

Companies - Wed, May 7, 2025 | 11:14 am GMT+7

Listing, state capital divestment “blockbusters” new catalysts for Vietnam's stock market

Listing, state capital divestment “blockbusters” new catalysts for Vietnam's stock market

As Vietnam’s stock market enters an information lull following Q1 earnings releases and AGMs, recent news about major listing and state capital divestment plans are expected to be significant catalysts for the country's benchmark VN-Index.

Finance - Wed, May 7, 2025 | 8:17 am GMT+7

Construction of first locally-owned semiconductor factory begins in Vietnam

Construction of first locally-owned semiconductor factory begins in Vietnam

CT Semiconductor, a subsidiary of CT Group, has begun the second phase of construction on what is set to become Vietnam’s first semiconductor chip factory fully owned by a domestic company.

Southeast Asia - Tue, May 6, 2025 | 10:50 pm GMT+7

Japanese retailers step up business activities in Vietnam

Japanese retailers step up business activities in Vietnam

Japanese retailers Aeon and Sumitomo have planned to expand their networks in Vietnam, Nikkei Asia reported on Monday.

Southeast Asia - Tue, May 6, 2025 | 10:39 pm GMT+7

Vietnam's budget carrier Vietjet sees 24% profit hike in Q1 on int’l growth surge

Vietnam's budget carrier Vietjet sees 24% profit hike in Q1 on int’l growth surge

Vietjet Aviation JSC (HoSE: VJC) reported a 24% year-over-year increase in consolidated profit for Q1, driven by strong international expansion and operational excellence, reinforcing its leadership in regional connectivity.

Southeast Asia - Tue, May 6, 2025 | 10:35 pm GMT+7

Northern Vietnam city Hai Phong claims top spot for first time in Provincial Competitiveness Index

Northern Vietnam city Hai Phong claims top spot for first time in Provincial Competitiveness Index

The coastal city of Hai Phong has, for the first time, topped the 2024 Provincial Competitiveness Index (PCI) with a score of 74.84, marking a significant milestone in its economic governance journey.

Southeast Asia - Tue, May 6, 2025 | 10:20 pm GMT+7

Malaysia initiates tariff talks with US

Malaysia initiates tariff talks with US

Malaysia is pushing forward tariff negotiations with the U.S., while implementing various policies to support local industries and strengthening efforts to seek new export markets.

Southeast Asia - Tue, May 6, 2025 | 10:12 pm GMT+7

ASEAN’s largest economy slows to lowest growth since Q3/2021

ASEAN’s largest economy slows to lowest growth since Q3/2021

Official data released recently indicates that Indonesia's economic growth decelerated in Q1 due to weakened domestic consumption.

Southeast Asia - Tue, May 6, 2025 | 9:59 pm GMT+7

Vietnam's agri major BAF reports record livestock profit since listing

Vietnam's agri major BAF reports record livestock profit since listing

BAF Vietnam Agriculture JSC in Q1 posted its highest livestock profit since listing in late 2021, thanks to a surge in pig output and revenue that nearly doubled year-over-year.

Companies - Tue, May 6, 2025 | 9:36 pm GMT+7

Amkor views Vietnam 'strong market' despite US tariff uncertainties

Amkor views Vietnam 'strong market' despite US tariff uncertainties

Amkor Technology, a U.S.-headquartered semiconductor firm, sees Vietnam a strong market in the mid and long term despite tariff uncertainties under the Trump administration, said an executive.

Investing - Tue, May 6, 2025 | 4:40 pm GMT+7

Over $7.7 bln in Vietnam's private placement corporate bonds to mature in last 3 quarters

Over $7.7 bln in Vietnam's private placement corporate bonds to mature in last 3 quarters

More than VND200 trillion ($7.7 billion) in privately-placed corporate bonds will mature in the final three quarters of this year, with the real estate sector accounting for half, according to independent credit rating provider S&I Ratings.

Finance - Tue, May 6, 2025 | 4:16 pm GMT+7

Sumitomo to halve equity interest in $2.58 bln thermal power plant in central Vietnam

Sumitomo to halve equity interest in $2.58 bln thermal power plant in central Vietnam

Sumitomo has decided to transfer 50% of the Japanese giant's equity interest in its wholly-owned operator of the $2.58 billion Van Phong 1 coal-fired power plant in Vietnam’s central province of Khanh Hoa.

Energy - Tue, May 6, 2025 | 3:54 pm GMT+7

Singapore's CapitaLand Development forms strategic partnership with Vietnam's Vinhomes

Singapore's CapitaLand Development forms strategic partnership with Vietnam's Vinhomes

CapitaLand Development has expanded in Vietnam with two major moves - a strategic collaboration agreement with leading local developer Vinhomes and the unveiling of The Fullton, a $800 million low-rise residential project in Hung Yen province.

Real Estate - Tue, May 6, 2025 | 2:56 pm GMT+7

Vietnam's disbursed FDI in 4 months posts five-year record high

Vietnam's disbursed FDI in 4 months posts five-year record high

Registered foreign direct investment (FDI) in Vietnam hit $13.82 billion in the first four months of the year, up 39.9%, while disbursed capital reached $6.74 billion, up 7.3% and marking a record high in five years.

Economy - Tue, May 6, 2025 | 2:12 pm GMT+7