Foxconn has maintained a presence in Vietnam since 2007. As of early 2026, Foxconn's total investment in the country has surpassed the $4 billion threshold.
The new facility will manufacture large power transformers mainly for High-Voltage Direct Current (HVDC) projects, complementing GE Vernova’s existing HVDC transformer manufacturing facilities in Stafford, the UK, and India, etc…
The northern province prioritizes attracting high-tech and environmentally friendly projects that offer high added value, strong spillover effects, and the potential to establish new manufacturing ecosystems.
Rising numbers of newly-registered enterprises in 2025 were matched by overall optimism within the business environment while the growing number of companies seeking dissolution provides food for thought.
As of February 23, the central province had approved investment policies or granted investment registration certificates to 10 new projects and capital adjustments to 26 others.