Taiwan’s Foxconn group this morning, August 28, opened the first two plants in its $5billion group of projects in Vietnam in the presence of Deputy PM Hoang Trung Hai and Terry Gou, Chairman of Foxconn.

The two plants, manufacturing electronic components, have initial investment capital of $160 million and are located in Que Vo Industrial Zone in the northern province of Bac Ninh.

Along with those plants, Foxconn is also opening a representative office in Bac Ninh. At the same time, it's building another electronic component plant in Bac Giang province.

Foxconn chose Bac Ninh and Bac Giang as the two first buffers in Vietnam and it aims to turn the two places into cities of technology in the future. According to Foxconn, Vietnam is its third-most-important destination after China and India.

The largest base of Foxconn is now in China with 270,000 employees. The group has 15 branches throughout the world and it is one of the top five electronic component groups in the world.

Foxconn operates in various fields such as production of electronic components and assembly of computers, printers, cameras, TV sets, laptops, ipods, iphones, cell phones and telecom products. This group is a provider of components for Apple, Nokia, Intel, Microsoft, Dell, HP, IBM, Motorola and Sony Ericsson.
Foxconn has recruited 500 new university graduates in Vietnam who will be trained in China to become key staffs at Foxconn’s factories in Vietnam.