Apple

A number of Taiwanese investors are interested in investing Vietnam.

Vietnam is currently Foxconn’s largest production hub in Southeast Asia.

Foxconn plans to invest another US$700 million in Vietnam this year.

Given uncertainties surrounding the US – China relations and the serious Covid-19 situations globally, Vietnam has become a logical choice in the eyes of investors.

While global FDI is projected to decline by 40% year-on-year in 2020, FDI commitments to Vietnam in the first eight months dropped 13.7% year-on-year to US$19.54 billion.

These projects are expected to create 22,500 direct jobs and manufacture products that are supplied to Microsoft, Sony, Lenovo and Apple.

In addition to current incentives, Vietnam also offers tailor-made ones for hi-tech projects that help local firms further integrate into global value chains, said a senior government official.

With a growing number of multinationals looking to set a foothold in Vietnam, the country is having a great opportunity from a new wave of foreign investment, according to the trade ministry.

Luxshare ICT announced they are still hiring 300 workers per day from June 18 to 20 for production expansion in North Vietnam.

Foreign investors have been net buyers so far this month -- a first since January -- amid a stable currency.