Hundreds of thousands of workers are employed in Vietnam by Apple´s suppliers, such as Foxconn and Wistron. These players have been investing heavily in Vietnam since the start of the trade war between the United States and China, and are continuing to expand their business in the Southeast Asian country with additional finance and relocation initiatives.
Pegatron, a major Apple supplier with locations throughout the world, is investing USD 1 billion across three key projects in Vietnam:
- In June 2021, the Taiwanese company announced that it was investing USD 101 million in three high-tech manufacturing plants in Hai Phong, Vietnam’s northern port city. In March 2020, the company obtained permits for investing in a USD 19 million facility.
- Pegatron is also investing USD 481 million in its second initiative to produce computers, electronic devices, communications equipment, electronic components, and circuit boards.
- The third project, valued at approximately USD 500 million, will be completed between 2026 and 2027. It will include the relocation of its research and development center from China to Vietnam.
According to Apple’s most recent annual supplier list, the tech giant counted 21 suppliers in Vietnam in 2020, up from 14 in 2018. These include Compal Electronics in Vinh Phuc Province; GoerTek and Samsung Electronics in Bac Ninh Province; Foxconn and Luxshare Precision in Bac Giang Province; and LG Display and LG Innotek in Hai Phong.
(Source: VIR)
