HANOI - Apple Inc wants to increase its investment in Vietnam, state media quoted Tim Cook, the CEO of the iPhone maker, as saying in Hanoi on Tuesday.
Vietnam is already a key manufacturing hub for Apple. Mr Cook made the comments while meeting Prime Minister Pham Minh Chinh, state media reported.
Vietnam will set up a working group to support Apple’s investment, Chinh said during the meeting, according to the reports.
In a statement released on Monday on its website, Apple said it would increase 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 did not respond to a request for additional comments about its planned spending.
Mr Cook arrived in Hanoi on Monday for the two-day visit during which he met suppliers, students, content creators and users of Apple products.
Apple manufactures iPads, AirPods and Apple Watches in Vietnam. Suppliers for its MacBook computers are also investing in the country.
The company had 25 suppliers in Vietnam as of 2022, according to its latest suppliers’ list, the same as in the previous year and up from 21 in 2020. These suppliers include Foxconn, GoerTek, Luxshare, Intel, Samsung Electronics and Compal.
Suppliers to its main vendors, such as Foxconn, are also moving or planning to move to Vietnam, and some are shifting some activities out of China, amid US-China tensions, according to several industry sources who declined to name the companies as the moves were still confidential.
Thailand has also been wooing Apple, with Prime Minister Srettha Thavisin meeting with Mr Cook last November during the Asia Pacific Economic Cioperation summit in San Francisco.
Mr Srettha quoted Mr Cook as saying in a subsequent letter that Thailand “has the potential and is well-equipped” for future cooperation.
“With the government’s support in areas such as education, the industrial sector and labour, I am confident the collaboration with Apple will materialise,” the premier added.