Terry Gou, President of the Foxconn Group, has unveiled a plan to invest 5 billion USD in Viet Nam and pledged to transfer advanced technology into the country.
Gou revealed the information at his recent working session with the Kinh Bac City Group and leaders of northern Bac Ninh and Bac Giang provinces, said Dang Thanh Tam, Chairman and CEO of the Kinh Bac City Group.
According to Tam, the Foxconn president said the group will initially pour 3 billion USD into a project to produce hi-tech products and set up a joint venture with the Kinh Bac City Group to build new towns with trade and recreational centres, schools and hospitals.
The Kinh Bac City Group operates many industrial zones in Viet Nam, including the 100 million USD Que Vo Industrial Zone in Bac Ninh province and the 50 million USD Quang Chau Industrial Zone in Bac Giang province.
According to Tam, the Kinh Bac City Group plans to issue some 1,000 billion VND (62.5 million USD) worth of shares to mobilise capital for the construction of more urban and industrial zones.
