HANOI—Apple supplier Foxconn has signed a $300 million memorandum of understanding with Vietnamese developer Kinh Bac City to expand its facility in the north of the country to diversify and boost production, state media said on Saturday.
The Taiwanese company’s new factory, on a plot of 50.5 hectares (125 acres) in Bac Giang province, will generate 30,000 local jobs, the Tuoi Tre newspaper said.
Foxconn, formally called Hon Hai Precision Industry Co, and Kinh Bac City did not immediately respond to requests for comment.
The move follows a report last week that Foxconn has started test production of the Apple Watch in northern Vietnam….