Foxconn looks to expand investment in Bac Ninh

Wednesday, Sep 20, 2017 15:46

Foxconn’s vice chairman Lu Fang Ming mets with Chairman of Bac Ninh Province’s People’s Committee Nguyen Tu Quynh. — Photo

Foxconn expects the northern province of Bac Ninh will continue providing favourable conditions and introduce investment locations where there is ample land and convenient transport infrastructure to expand its production.

This was stated by group vice chairman Lu Fang Ming.

According to information on the province’s official portal, Foxconn officials held a meeting with the provincial People’s Committee earlier this week.

Chairman of the provincial People’s Committee Nguyen Tu Quynh highly appreciated Foxconn for providing jobs and a stable income to thousands of locals and contributing to the State budget.

Quynh also introduced some potential industrial parks with favourable transport and modern infrastructure for Foxconn to expand its production.

In addition to the Government’s preferential policies, Bac Ninh will also have its own specific preferential policies for projects with significant investment.

Foxconn has been in operation for 10 years and specialises in electronic spare parts, IT and telecommunications in Bac Ninh.

Its factory employs more than 34,000 labourers. Last year, its turnover reached over US$1.5 billion.

In addition to outsourcing and manufacturing for some of the world’s large electronic firms, Foxconn is engaged in mobile phone production for three brand names -- Nokia, Sharp and Infocus.

Bac Ninh is among the localities with the fastest growth rate in the country, attracting FDI with total investment of some $15.5 billion. — VNS

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