Foxconn’s Shunsin plans $80 billion chip plant in Vietnam

Foxconn subsidiary Shunsin has submitted a request for an $80 million investment permit to establish an integrated circuit manufacturing plant in Bac Giang province, northern Vietnam. This development is detailed in a document from Vietnam’s environment ministry and represents a significant expansion of Foxconn’s operations in the region. The proposed facility aims to produce and process electronic components, particularly integrated circuit boards and is expected to commence full-scale operations by December 2026, with an annual production capacity of 4.5 million units.

This move aligns with Foxconn’s ongoing strategy to diversify its manufacturing base outside of China, especially in Southeast Asia, where it has already made substantial investments. The products manufactured at the new Shunsin plant will be designated for export, targeting major markets including the US, EU, and Japan. This export focus underscores Foxconn’s commitment to meeting the growing global demand for advanced electronic components.

Foxconn, officially known as Hon Hai Precision Industry, is recognised as the world’s largest contract electronics manufacturer. Since entering Vietnam in the early 2000s, the company has invested over $3.2 billion in various operations across the country. Its manufacturing footprint is primarily concentrated in northern provinces like Bac Ninh and Bac Giang, which have become key hubs for electronics production. In July, Foxconn also received a license to invest $383 million in a factory dedicated to printed circuit boards, further enhancing its capabilities in the region.