The Vietnamese government says Apple supplier Quanta Computer plans to invest about US$120 million to set up a factory in northern Vietnam, reports Reuters.

The article says the company signed an agreement with the authorities of Nam Dinh province, 56 miles south of Hanoi, to construct the facility at an industrial park there. The facility, which would be Quanta’s 9th factory globally, would initially cover an area of 22.5 hectares. No time frame has been announced for the construction.

Apple contractor Foxconn also its eye on Vietnam. The company signed a lease with Saigon-Bac Giang Industrial Park Corp to occupy a plot of 45 hectares (111 acres) for around US$62.5 million to meet “operational needs and expand production capacity”, according to an exchange filing in February. 

Article provided with permission from AppleWorld.Today