18 October 2024

Several major Apple suppliers are expanding their investments in Vietnam.

After receiving approval for a $383 million printed circuit board manufacturing project in late September, Taiwanese electronics giant Foxconn is pushing forward with plans to complete the necessary procedures. The factory, named FCPV Foxconn Bac Ninh, will be located in the Nam Son-Hap Linh Industrial Park, with an annual production capacity of 2.79 million items. Foxconn Singapore Pte., Ltd. will be the investor. The company plans to finalize administrative procedures by the first quarter of 2025, complete construction by early 2026, and begin operations in Q3 of that year.

Meanwhile, Goertek Hong Kong, a subsidiary of the Chinese electronics giant Goertek, is setting up a $280 million subsidiary in the same province. This expansion will help the company leverage local resources to produce headphones, smartwatches, and VR/AR consumer electronics.

Luxshare-ICT Vietnam is also expanding, with plans to bring its project in Bac Giang province online by July 2026. The project, spanning 29.1 hectares in Quang Chau Industrial Park, involves completing administrative tasks this year, renovating factories, and installing equipment in 2025. Luxshare also intends to invest $150 million in Nghe An province to establish production facilities for Apple and Huawei smartwatches.

These expansions have spurred a significant surge in labor demand. Apple’s contract manufacturers in Vietnam, including Foxconn, plan to recruit over 103,000 workers this year, mainly for factories in Bac Giang. Foxconn alone seeks to hire an additional 12,000 workers for its Dinh Tram and Quang Chau facilities. Recruitment peaked in late summer to prepare for the holiday shopping season, with companies like Luxshare and Foxconn filling thousands of roles to produce products such as AirPods and iPads.