Vietnam says Taiwan's Foxconn starts factory to make displays (updated)

PUSAN CAST IRON

18/11/2020 05:49

(Adds details and background)
    By Khanh Vu
    HANOI, Nov 18 (Reuters) - Taiwan-based electronics maker
Foxconn  2354.TW  turned out the first batch of display screens
this week at its $26-million factory in Vietnam, the government
of the southeast Asian nation said on Wednesday.
    Most of the 20,000 screens to be produced each year at the
factory in the northern province of Quang Ninh are destined for
export, the government said in a statement.
    "Foxconn is preparing to expand the project and form a
production complex," it added, saying the plan would make the
company the leading exporter in the province.
    Reuters could not immediately reach Foxconn to seek comment.
    The nation of 96 million has become a key production base
for firms such as South Korea's Samsung Electronics  005030.KS 
to LG Electronics Inc  066570.KS , after it signed several free
trade pacts.
    Foxconn is to expand the Quang Ninh factory, which took a
year to build, to eventually produce a million display screens
and televisions, for total export revenue of about $250 million
next year, the government said.
    That figure is to rise to $1 billion in later years, it
added. 
    Foxconn, the world's largest contract electronics maker, set
up its first Vietnam factory in 2007 in the northern province of
Bac Ninh. 

 (Reporting by Khanh Vu; Editing by Kim Coghill, Clarence
Fernandez and Uttaresh.V)
 ((khanh.vu@thomsonreuters.com; +84 24 38259623;))