Apple CEO Tim Cook wants to spend more on suppliers in Vietnam: Report

Apple Inc wants to boost its investment in Vietnam, state media quoted the US tech giant's CEO Tim Cook as saying in Hanoi on Tuesday.

Vietnam is already a key manufacturing hub for Apple and Cook was speaking while meeting Vietnamese Prime Minister Pham Minh Chinh, state media reported.
 

Vietnam will set up a working group to support Apple's investment, Chinh told Cook during the meeting, according to state media.

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 ($15.84 billion) and has created some 200,000 jobs, the statement added.
 

Apple did not respond to a request for additional comments about its planned spending.
 

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 and suppliers for MacBooks are also investing in the Southeast Asian 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.
 

While meeting Cook, Chinh said that Vietnam was seeking support from Apple to develop renewable energy as well as in high-quality human resource training, VTV said in a report.
 

Apple's latest announcement came days after activists urged the company to take action on Vietnam's detention of climate experts.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)