Apple CEO Tim Cook expressed his intention to increase investment in Vietnam during a meeting with Vietnamese Prime Minister Pham Minh Chinh. This announcement comes after Apple revealed plans to boost spending on suppliers in the Southeast Asian nation. Vietnam has gained significance for Apple as the tech giant aims to diversify its supply chains beyond China, where the majority of its smartphones and tablets are manufactured.
Amid disruptions caused by COVID-19 lockdowns in China, Apple has been exploring production relocation to countries like Vietnam and India. Cook highlighted the appeal of Vietnam, describing it as a vibrant and beautiful country. Apple's annual expenditure in Vietnam has reportedly doubled since 2019, although specific details of the investment plan were not disclosed.
Apple's presence in Vietnam dates back over a decade, with the company claiming to have generated more than 200,000 jobs in the country. Vietnam is recognized as one of the top five global producers of mobile games. Currently, Apple collaborates with 26 suppliers operating 28 factories in Vietnam, as per its 2022 list. The majority of these facilities are situated in northern provinces, strategically positioned to leverage existing supply chains in southern China.
Northern Vietnam has a historical reputation as an electronics manufacturing hub, offering a combination of skilled labor and cost-effective production. Cook's visit to Hanoi included engagements with students, programmers, and content creators, reflecting Apple's commitment to fostering relationships within the Vietnamese tech ecosystem.
