Foxconn’s subsidiary Shunsin to invest $80 mln in northern Vietnam to produce integrated circuits

Nov 04, 2024

Shunsin Technology (Bac Giang, Vietnam) Limited, a subsidiary of Taiwanese giant Foxconn, will invest $80 million in Vietnam’s northern province of Bac Giang to produce integrated circuits (IC).

Shunsin Technology will provide $20 million of the investment from its equity and mobilize the remaining amount from other sources.

The project will cover 4.4 hectares in Quang Chau Industrial Park, a facility invested by Kinh Bac City (KBC) - a leading industrial park developer in Vietnam.

Shunsin Technology plans to complete administrative procedures and begin construction next month. It aims to install equipment in May 2026, start trial production in June 2026, and enter official operation from December 2026.

The investment has an annual output of 4.5 million items. All of the products are set for export to the United States, the EU, and Japan.

Once fully operational, labor demand for the project is 1,450 people, including 35 foreigners.

Foxconn, a supplier to Apple, started investing in Vietnam in 2007. In June, Brand Cheng, CEO at Foxconn Industrial Internet, informed Vietnamese Prime Minister Pham Minh Chinh that the Taiwan-headquartered firm had invested around $4 billion in five Vietnamese provinces, employing 80,000 people.

The company recorded a total operating income of $6.7 billion from its Vietnamese affiliates in 2023, according to its annual report.

A major investment of Foxconn in Bac Giang is Fukang Technology. The firm will manufacture Macbook and iPad in Vietnam with its existing investment worth VND12.5 trillion ($508 million).

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