Apple announces Vietnam spending boost as CEO visits Hanoi

HANOI, Vietnam — Tech giant Apple said Monday it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit.

The iPhone maker announced the news in a statement on its website but gave no details of how much it would spend or where the money would go.

Cook is expected to meet programmers, content creators, and students during his visit, according to VnExpress.

The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce American dependence on China.

READ: Apple to move key iPad engineering resources to Vietnam- Nikkei

Images on the VnExpress news site showed Cook taking a walk by Hoan Kiem lake in downtown Hanoi.

“Hello Vietnam. I am so excited to be here today. I can’t wait to see all the developers and creators in the community,” the Apple boss said in a video posted on the news site.

The Apple statement said the company has spent nearly 400 trillion dong ($16 billion) since 2019 through its local supply chain and has more than doubled its annual spending in Vietnam during the same period.

“From cooperating with local suppliers to supporting clean water projects and educational opportunities, we are committed to continuing to strengthen connections in Vietnam,” Cook said in the statement.

Last week more than 60 environmental and human rights organizations called on the US-based company to oppose the detention of climate activists in Vietnam.