Luxshare, an Apple supplier, increases investment in Vietnam by $330M

Luxshare ICT, an Apple supplier, has been granted approval to enhance its factory in Bac Giang, a province in northern Vietnam. The expansion project, estimated at $330 million, will take place in the Quang Chau Industrial Park and is expected to be completed within 24 months.

This investment will raise the total investment in the project to $504 million, as confirmed by local authorities. Luxshare initially invested in Bac Giang in 2019 and currently operates another factory in the province. In recent months, the Chinese company has been actively recruiting 20,000 new employees for its two manufacturing facilities.