Apple announces Vietnam spending boost as CEO visits Hanoi

Published : 16 Apr 2024 09:26 PM

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 in order to

 reduce American dependence on China.

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


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 to 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 organisations called on the US-based company to oppose the detention of climate activists in Vietnam.