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Friday, June 14, 2024

Apple supplier invests additional US$330 million in Bac Giang

The Saigon Times

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HCMC – Apple supplier Luxshare-ICT has received approval to invest an additional US$330 million in its manufacturing plant in Vietnam’s northern province of Bac Giang, bringing its total investment in the province to US$504 million.

The Bac Giang Industrial Zones Authority has recently issued a revised investment registration certificate to Luxshare-ICT.

The project will be developed within the Quang Chau Industrial Park, Viet Yen District, covering a total area of nearly 30 hectares. It is expected to be completed in 12 to 24 months.

The facility will manufacture electronic components, including cables for smart devices, communications equipment, touch pens, lighting devices, walkie-talkies, smart positioning tags, and smartwatches.

Upon completion, it is expected to generate employment opportunities for thousands of workers in Bac Giang and neighboring provinces.

Luxshare-ICT, a China-based firm and one of Apple’s main AirPods manufacturers, began investing in Bac Giang Province in 2019. In addition to the facility in Quang Chau Industrial Park, Luxshare ICT also operates another at Van Trung Industrial Park, Viet Yen District.

With this recently registered additional capital, Luxshare-ICT Vietnam is a foreign direct investment firm with the second-largest capital increase in Bac Giang’s industrial hub since the beginning of the year.

In recent months, Luxshare-ICT Vietnam has announced its plans to hire thousands of workers for its two plants in Bac Giang to support its production expansion efforts.

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