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Electronic firms continue to shift investment to Vietnam

Electronic firms continue to shift investment to Vietnam - Created date17/01/2023

In continuation of moving their production hubs, this year many of the giants in the world of technology and electronics have announced business expansion plans in Vietnam. Recently, Apple revealed that it will move its MacBook production chain to Vietnam in 2023. It has asked Foxconn, its biggest supplier, to launch a MacBook production chain in Vietnam from May this year, while making plans to produce Mac Pro in Vietnam. In 2025, about 20% of the total number of iPads and Apple Watches will be produced in Vietnam, along with 5% of the MacBook and 65% of the AirPods. Currently, 25 out of the 190 partners of Apple are running their factories in Vietnam. Foxconn, after investing 1.5 billion USD in Vietnam, plans to invest an additional 300 million USD in the Fukang factory in Quang Chau Industrial Park in Bac Giang province.

Another Apple supplier, Goertek has announced its additional 300 million USD investment in Bac Giang. Meanwhile, Lxshare, which will assemble the iPhone 15 Pro Max, is running six factories in Vietnam with a total of 40,000 laborers. Electronics firm Pegatron is also building a factory worth about 481 million USD in Hai Phong, while moving its R&D center from China to Vietnam at a suitable time. Many other big companies such as OPPO, HP, and Brose are also considering the relocation of production plants to Vietnam, while others, including Xiaomi, Bosch, Panasonic, Amkor, Sharp, and Compal, also plan to expand their business presence in the country. Particularly, Korean firm Samsung, after pouring 18 billion USD and launching Southeast Asia’s largest R&D center in Vietnam, also plans to raise its investment in Vietnam to 20 billion USD in the coming time. Another Korean electronics company, LG, is also making plans to inject an additional 4 billion USD into Vietnam.

Read more: Vietnam Software Outsourcing

Source: VietnamPlus