Foxconn targets Q1/2026 opening for $621 mln project in northern Vietnam

Taiwanese electronics giant Foxconn aims to have its $621 million project in the northern province of Bac Giang become operational in the first quarter of 2026.

Ingrasys (Singapore) Pte. Ltd., a Foxconn subsidiary, received its first investment registration certificate for the project in January 2023 and the latest adjustment to it late last month.

Fulian Precision Technology Component Co., Ltd, a Foxconn affiliate based in Bac Giang province, will implement the project.

The project will cover 49.6 hectares at the Quang Chau Industrial Park and employ 50,000 people - 45,000 of them Vietnamese.

Fulian plans to complete administrative procedures, build factories and install equipment by Q4/2025.

The project will have an annual capacity of 93.4 million items, according to the latest adjustment, compared to 14 million items mentioned in the first investment certificate.

The output includes consumer products, network equipment, and communication equipment.

Foxconn also expects a surge in demand for its products, especially IP cameras, PCBA, Wi-Fi access points (Wi-Fi AP), and product repair.

In June, Brand Cheng, chief executive officer at Foxconn Industrial Internet, informed Vietnamese Prime Minister Pham Minh Chinh that the Taiwan-headquartered firm had invested around $4 billion in five Vietnamese provinces, employing 80,000 people.

The company recorded a total operating income of $6.7 billion from its Vietnamese affiliates in 2023.