Apple CEO says that he wants to increase investments in Vietnam
HANOI, Vietnam (AP) — Apple CEO Tim Cook said Tuesday that he wants to further increase investment in Vietnam a day after the company announced it would spending on suppliers in the Southeast Asian manufacturing hub.
Vietnam has become more important to Apple as the company seeks to diversify its supply chains away from China, where most of its smartphones and tablets are assembled.
The company began looking at moving its production to countries like Vietnam, and more recently India, after shutdowns to fight COVID-19 in China repeatedly disrupted the company’s shipments.
Cook made his comments while meeting with Vietnamese Prime Minister Pham Minh Chinh, according to state media outlet Voice of Vietnam. Apple also said that it would increase its spending on suppliers, according to a press release on Monday.
“There is no place like Vietnam, a vibrant and beautiful country,” said Cook, according to the press release, adding that the company’s annual spending in the country had doubled since 2019.