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Sep 14, 2023 / 18:29

Apple’s supplier pours US$125 million into Hanoi high-tech project

The conglomerate will establish an R&D and supply chain complex to support Hanoi-based and Vietnamese companies participating in its global production chain.

INVENTEC, a Taiwan-based supplier to Apple, received an investment certificate on September 13 for its high-tech project in Hanoi Southern Supporting Industrial Park (HANSSIP), Phu Xuyen District, Hanoi.

The leaders of the Management Board of HANSSIP presented the investment certificate to the investor. Photo: Anh Ngoc/ The Hanoi Times

The US$125 million project "Inventec Vietnam Factory" is located in an area of 161,647 square meters, with a total capacity of approximately 32 million units per year.

The factory is scheduled to be operational after 36 months, in the operation period of 50 years.

Speaking at the event, Le Quang Long, Chairman of the Board of HANSSIP, said that after receiving the investment license, the Taiwanese investor should focus on resources and funds to ensure the implementation schedule.

"In the first phase of our investment plan, we will invest about VND3 trillion ($123.4 million) to build the workshop, machinery and equipment. After the second quarter of 2024, we will start construction and create jobs for 15,000-20,000 workers," said Yeh, Li-cheng, Chairman and General Director of INVENTEC Vietnam.

In subsequent phases, he added that the conglomerate will build an R&D and supply chain complex to support Hanoi and Vietnamese companies participating in its global production chain.

The Apple supplier currently uses about 10-30% of the component products produced in Vietnam, which would increase to more than 50%.

To date, Hanoi's industrial parks have attracted 709 active projects, including 302 foreign-invested projects with registered capital exceeding $6.4 billion and another 407 domestic-invested projects with registered capital surpassing VND19.2 trillion ($790.1 million).