TAIPEI – Foxconn will invest $700 million (NT$19.8 billion) in Vietnam in 2021, bringing its two-year total to more than $2 billion, according to reports.

The new investment could create up to 10,000 jobs.

As of the end of 2020, Foxconn had invested $1.5 billion in Vietnam. Revenue in the country is expected to reach $10 billion this year, more than triple that of 2019.

One upcoming project is a $270 million factory in Bac Giang. The factory will produce eight million computers annually when fully ramped, including iPads and MacBooks.

Revenue there in 2019 was $3 billion, followed by $6 billion in 2020. The company’s three-to-five year target revenue in Vietnam is $40 billion.

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