As part of his visit to the U.S., Prime Minister of Vietnam Pham Minh Chinh met with Apple CEO Tim Cook last week, and the two discussed the proliferation of the company’s business in Vietnam.
Apple has been working for years to reduce its reliance on China by gradually moving its manufacturing plants to other parts of the world like India, Malaysia, and Vietnam because of its conducive operational environment.
The company’s biggest iPhone assembling partner Foxconn invested $270 million to establish iPad and MacBook manufacturing plants in Vietnam and later production of HomePod, AirPod, and iPhone also began in the country.
Apple CEO and PM Chinh express commitment to strengthening trade ties
At the meeting held in Apple Park, CEO Cook and PM Chinh mutually expressed the desire further strengthen their trade ties. PM Chinh said that Vietnam is becoming a part of the global supply chain because of the 31 companies which produce Apple products in the country. He also added that his government was willing to create a “fair, transparent and market-based business environment and investors gain ground in Vietnam.”
PM Chinh shared that consumers of all ages in Vietnam love Apple products and their interest will continue to increase owing to the “growth of the global digital economy.” Therefore, he requested Cook to amplify its business activities in Vietnam.
At the meeting with Apple’s CEO Tim Cook, the PM underlined the cooperation in trade, investment and finance as the driving force for a robust US-Vietnam Comprehensive Partnership
He hoped the country would soon become Apple’s model market in Asia.
In response, Cook thanked the PM for providing a “favorable business environment” for the company’s operations and assured him that the tech giant wants to expand its supply chain in the country and not only involve local suppliers but also increase their number.
Mr. Cook also hoped that the Vietnamese Government would introduce even more investment-friendly policies for U.S. high-tech companies like Apple.
The news came at the time when the tech giant has reportedly talked to some of its suppliers to boost production out of China because of the stifled volume in the country due to COVID-19 lockdowns and health restrictions.