The CEO of Apple says he wants to make more investments in Vietnam

Vietnam’s HANOI (AP) — A day after the business revealed that it will spend on suppliers in the Southeast Asian manufacturing hub, Apple CEO Tim Cook stated on Tuesday that he intends to further enhance investment in Vietnam.

As Apple looks to diversify its supply chains away from China, where the majority of its smartphones and tablets are made, Vietnam has grown in importance.

After repeated disruptions to its exports by China’s COVID-19 shutdowns, the company started considering transferring its production to other countries, including Vietnam and, more recently, India.

According to state broadcaster Voice of Vietnam, Cook made his remarks during a meeting with Vietnamese Prime Minister Pham Minh Chinh. In a press release on Monday, Apple added that it will be increasing its spending on suppliers.

According to the press release, Cook stated, “There is no place like Vietnam, a vibrant and beautiful country,” and added that the company had doubled its yearly spending in the nation since 2019.

Nothing specific about the strategy was disclosed. Cook met students, programmers, and content creators during his two days in Hanoi, which began on Monday.

Since it started doing business in Vietnam more than ten years ago, Apple claims to have generated over 200,000 employment in the country. Vietnam is one of the world’s top five developers of mobile games.

Apple’s 2022 list shows that it has 28 factories and 26 suppliers in Vietnam. The majority of these are found in northern regions, making it simple to link them to southern China’s current supply systems. In the past, Northern Vietnam has been a center for producing electronics due to its inexpensive and highly skilled labor.