HANOI -- Foxconn, the world's largest contract manufacturer, will invest up to $1 billion toward a large industrial park in Vietnam, according to published reports.

"Vietnam has become a very efficient country for production and it will become a major production area for us outside of China," Hon Hai spokesman Edmund Ding told Reuters.

Previous reports indicated the company plans a massive (50 hectacre) park where it would build computer, communications and consumer electronics.

The Commercial Times quoted Ding as saying chairman Terry Guo decided to look into Vietnam after going there himself on a business trip late last year.

Vietnam is becoming an attractive spot for locating production. Taiwan's leading telecom company, Chunghwa Telecom Co. Ltd., reportedly studying the nation as well.

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