Apple has announced plans to boost spending in Vietnam, as CEO Tim Cook arrived in the Southeast Asian country for a two-day visit.
The California-based tech giant said in a statement on Monday that it would boost spending on suppliers in the country but did not elaborate on the amount it would spend or where the money would be focused.
The iPhone maker said it has spent nearly 400 trillion dong ($16bn) since 2019 through supply chains in Vietnam and more than doubled annual spending in the country during the same period.
“From cooperating with local suppliers, to supporting clean water projects and educational opportunities, we are committed to continuing to strengthen connections in Vietnam,” Cook said in the statement.
Vietnam has emerged as Apple’s most important manufacturing hub outside of China in recent years, with suppliers such as Luxshare, Foxconn, Compal, and GoerTek operating factories that employ more than 150,000 Vietnamese.
During his visit, Cook is expected to meet programmers, students and content creators, as well as users of Apple products.
Hoan Kiem Lake in Hanoi is as beautiful as it is iconic! It was amazing to spend time with Duy and see his creative process using Cinematic mode on iPhone 15 Pro. pic.twitter.com/5INkRcew1r
— Tim Cook (@tim_cook) April 15, 2024
After arriving in Hanoi on Monday, Cook posted pictures on X showing the tech executive drinking coffee with two local musicians and posing for a selfie with a man at Hoan Kiem Lake in the capital.
Cook’s trip comes as US President Joe Biden’s administration is seeking to boost Vietnam’s position in the global tech supply chain as part of efforts to lessen US dependence on China.
In September, Biden announced the upgrade of United States-Vietnam relations to a “comprehensive strategic partnership” during a visit to the country aimed at boosting trade and cooperation in critical industries such as semiconductors.
