CEO Tim Cook dinner meets premier as firm says it needs to spice up funding
PUBLISHED : 16 Apr 2024 at 15:12
HANOI – Apple Inc needs to extend its funding in Vietnam, state media quoted Tim Cook dinner, the CEO of the iPhone maker, as saying in Hanoi on Tuesday.
Vietnam is already a key manufacturing hub for Apple. Mr Cook dinner made the feedback whereas assembly Prime Minister Pham Minh Chinh, state media reported.
Vietnam will arrange a working group to assist Apple’s funding, Chinh mentioned throughout the assembly, in keeping with the stories.
In an announcement launched on Monday on its web site, Apple mentioned it might enhance its spending on suppliers in Vietnam. Its spending has already reached some 400 trillion dong ($15.8 billion) and has created 200,000 jobs, it added.
Apple didn’t reply to a request for added feedback about its deliberate spending.
Mr Cook dinner arrived in Hanoi on Monday for the two-day go to throughout which he met suppliers, college students, content material creators and customers of Apple merchandise.
Apple manufactures iPads, AirPods and Apple Watches in Vietnam. Suppliers for its MacBook computer systems are additionally investing within the nation.
The corporate had 25 suppliers in Vietnam as of 2022, in keeping with its newest suppliers’ checklist, the identical as within the earlier 12 months and up from 21 in 2020. These suppliers embody Foxconn, GoerTek, Luxshare, Intel, Samsung Electronics and Compal.
Suppliers to its major distributors, corresponding to Foxconn, are additionally shifting or planning to maneuver to Vietnam, and a few are shifting some actions out of China, amid US-China tensions, in keeping with a number of trade sources who declined to call the businesses because the strikes had been nonetheless confidential.
Thailand has additionally been wooing Apple, with Prime Minister Srettha Thavisin assembly with Mr Cook dinner final November throughout the Asia Pacific Financial Cioperation summit in San Francisco.
Mr Srettha quoted Mr Cook dinner as saying in a subsequent letter that Thailand “has the potential and is well-equipped” for future cooperation.
“With the federal government’s assist in areas corresponding to schooling, the economic sector and labour, I’m assured the collaboration with Apple will materialise,” the premier added.
