US tech giant Apple has committed to increasing its existing investment in Vietnam, according to the country’s state media.
Tim Cook, Apple’s CEO, is currently on a two-day visit to the country where he committed to buying from more Vietnamese manufacturers and investing in its supply chains.
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Vietnam’s government announced the news in a joint statement with Apple, clarifying that Cook had made the commitments during a meeting with Vietnamese Investment Minister Nguyen Chi Dung and Foreign Minister Bui Thanh Son.
Cook said Apple valued the role that Vietnam’s manufacturers played in creating its products and committed to paying Apple’s existing Vietnamese manufacturers more.
Since 2019, Apple has invested $16bn into Vietnam’s local supply chain, according to figures from the Vietnamese government. The Vietnamese government says that, during this time, Apple has created around 200,000 jobs in the country.
Alongside his commitment to investing further in the country’s supply chain, Cook also said that Apple would cooperate with the Vietnamese government to train its citizens for high-value technology jobs. This includes a commitment to train over 100,000 software engineers and 50,000 semiconductor engineers.
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By GlobalDataVietnam said in February that it is seeking cooperation with foreign private tech companies when it announced a national semiconductor strategy.
