Foxconn signs massive 5 billion USD contract
Ha Noi (VNA) - Taiwan 's Foxconn group inked a framework agreement for the largest singular company agreement in Viet Nam's corporate history.Foxconn's Chairman Guo Taiming signed the 5 billion USD pact in Ha Noi on August 29 with Minister of Planning and Investment Vo Hong Phuc.
The group will be afforded massive investment incentives and favourable conditions to facilitate the carrying out of its projects in Viet Nam, Minister Phuc said.
He also announced plans to establish a working group on investment promotion to support Foxconn's carrying out of projects that will include officials from the Ministry of Planning and Investment and other government ministries and sectors.
At the signing ceremony, the Foxconn Chairman lauded the Vietnamese government for its determination to pursue the renewal process, open door policy and fast tracked development of the economy.
He revealed that his group plans to employ 300,000 workers throughout the country and will look to turn the country into a major hub that supplies hi-tech electronics, components, spare parts and precise machinery.
Foxconn has selected Ho Chi Minh City, the northern port city of Hai Phong, the northern provinces of Bac Ninh, Bac Giang and Vinh Phuc, and southern Binh Dinh province to house its hi-tech companies.
The same day, Foxconn reached an agreement with the Saigon Invest Group for exploratory work, and the construction of urban area, industrial zones and power plants in Viet Nam.-Enditem
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