INTERNATIONAL INVESTMENT
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Hon Hai Precision Industry Co. Ltd., through its subsidiary New Wing Interconnect Technology (Bac Giang) Co., Ltd., announced on February 21 that it has acquired a 25 per cent equity stake in Goertek Electronics Vietnam Co. Ltd for $50 million.
This strategic investment aims to enhance Hon Hai’s positioning in the electronics industry, with the transaction subject to regulatory approvals. The decision was made through price negotiation, and the acquisition is expected to bolster Hon Hai’s market presence in Vietnam, according to a report by TipRanks.
The expansion of Hon Hai reflects a broader trend of technology companies investing in Vietnam. Driven by demand for high-tech industries like electric vehicles and semiconductors, Vietnam's manufacturing sector is expected to reach $108.7 billion in 2025. The country is becoming a hub for high-value manufacturing, particularly in electronics and automotive parts.
Hon Hai, better known as Foxconn, has actively expanded its production in Vietnam. Shunsin, a subsidiary of Foxconn, plans to invest $80 million to produce electronic components, especially integrated circuits, in Bac Giang. The project will have an annual capacity of 4.5 million units, all of which will be exported to the United States, EU, and Japan.
Foxconn has been present in Vietnam since 2007, building factories in Bac Ninh, Bac Giang, and other provinces. It produces a wide range of items, including computers, IT devices, consumer electronics, automotive components, and semiconductor equipment.
Goertek Vietnam was founded in March 2013, and is mainly engaged in the manufacturing and sales of acoustic precision components and smart hardware. Goertek Electronics Vietnam Co. Ltd is one of its subsidiaries specialising in the production of earphones, earphone chargers, and smartwatches in Bac Ninh.
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The Ministry of Natural Resources and Environment released a report on September 25 recommending the approval of a proposal for environmental permits at a factory in Bac Giang province.
By Thanh Van
