Tim Cook took a selfie with Duy Tham, a Vietnamese tech gadget influencer./ Photo credit: Tim Cook’s X (formerly Twitter) profile
Apple aims to increase its investments in Vietnam-based electronics suppliers, as the US tech giant continues to shift its focus toward emerging markets to drive growth.
The announcement came as CEO Tim Cook arrived in the Southeast Asian nation for a two-day visit.
The US tech titan has so far invested 400 trillion dong (US$15.8 billion) in the country through its local supply chain partners since 2019, it said in a statement.
Apple has been in Vietnam for over a decade, creating over 200,000 jobs in the country. In the announcement, the iPhone maker said it has also allied with local organizations to supply safe water and clean energy in rural schools in Vietnam.
“From partnering with local suppliers to supporting clean water projects and educational opportunities, we are committed to continuing to strengthen connections in Vietnam,” said Cook in a statement.
Cook’s visit is significant, as US companies have begun seeking an alternative to manufacturing in China.
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Currency converted from Vietnamese dong to US dollars: US$1 = 25,283.6 dong.
Editing by Miguel Cordon
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