Bac Ninh People's Committee granted an investment registration licence to the FCPV Foxconn Bac Ninh project earlier in June. According to information released on June 17, Singapore-headquartered Foxconn Singapore PTE LTD, a subsidiary of Foxconn, will be the investor of the project.

The factory named FCPV Foxconn Bac Ninh specialises in manufacturing and assembling PCB with a total capacity of 2.79 million items per year, equivalent to 2,989 tonnes per year.

The factory covers a total area of 14.3 hectares in Nam Son - Hap Linh Industrial Park, which is owned by Kinh Bac City Development Holding Corporation.

Foxconn continues to expand its production in Vietnam, with a focus on computing products. In mid-June, Foxconn announced its partnership with Nokia to produce its 5G AirScale equipment at its factory in Bac Giang. Production is scheduled to begin in July, with a plan to increase production in September 2024.

Another subsidiary, ShunSin Technology, is planning to open a new subsidiary in Vietnam, costing $20 million.

In June 2023, Foxconn received investment certificates for two new projects in Quang Ninh, with a total capital of $250 million.

Foxconn entered the Vietnamese market in 2007 and has invested $3.2 billion in the country. As of present, the Taiwanese company has run factories in Bac Ninh, Bac Giang, and Quang Ninh, employing more than 60,000 workers, engineers and experts.