Foxconn to Invest $551 Million in Two Projects in North Vietnam

Foxconn, the Taipei-based supplier to Apple Inc., will invest about $551 million in two new projects in Vietnam’s northern coastal province of Quang Ninh.

The company has been granted a license for a $264 million project in Song Khoai Amata Industrial Park to produce smart entertainment products, with designed capacity of about 4.2 million units per year, according to a posting on the provincial government’s website. It’s also been permitted to invest in a $287 million project in Bac Tien Phong Industrial Park to make smart-system equipment, the posting said.