Foxconn to expand i...
 

Foxconn to expand in Vietnam with $62.5 million factory lease  


bananamilk
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The article reports that Foxconn, one of the world's largest electronics manufacturers, is expanding its operations in Vietnam by leasing a new factory. The factory is located in the northeastern province of Bac Giang and is expected to start operations in the coming months. The expansion is part of Foxconn's plan to reduce its dependence on China, where it has faced rising labor costs and increasing tensions with the US. The company has been investing heavily in Vietnam in recent years, and this new lease is expected to further strengthen its presence in the country.

cre: https://appleinsider.com/articles/23/02/15/foxconn-making-giant-expansion-into-vietnam-with-new-lease

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caphekitty
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Posted by: @bananamilk

The expansion is part of Foxconn's plan to reduce its dependence on China,

I love this. I hope more changes get made here and other countries to move away from China. How they treat people is disgusting. Knowing how much countries depend on them and their cruel treatment of people is heartbreaking. 

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thirdstrikeIII
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This is big news. I am hearing more and more about businesses in other countries looking to expand in Vietnam. I love to see it!

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NhimXuXu
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I never heard of Foxconn but then again, I do not follow companies or manufacturers all that much. I like that they are moving to put their independence first. It is a great thing. 

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SoVintage
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@nhimxuxu It is a Taiwanese company and given what is happening with the tensions between Taiwan and China, they are looking to move their money makers away from the country. 

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NomNomNom
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I think more and more countries are moving away from China. I can understand why. I think China has amazing food and some great culture/traditions but it is not what it once was. The country treats their own people like disposable waste. 

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canabee11
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How long do these deals tend to take? It seems like people are throwing money around all the time but these deals take months and months or even years to conclude. 

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