Apple may be planning to build a research and development center in Vietnam, reports Vietnamese site BizLive. Work on the R&D center, which will be located in the Vietnamese central province of Da Nang, was uncovered following a local government meeting on foreign direct investment.
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Da Nang, image via VnExpress
Rumors earlier this year suggested Apple would invest up to $1 billion to build an Asia-focused research and development center in Vietnam, designed to "enhance its competitiveness over major global electronic manufacturers present in the country." Last October, Apple also established an Apple Vietnam LLC in Ho Chi Minh City, led by Gene Daniel Levoff, Apple's VP of corporate law who is also in charge of international operations.
Companies like Microsoft, Intel, and Samsung have had investment projects in Vietnam for several years, but the R&D center will be Apple's first major project in the country.
A final decision on whether the research center plans will move forward is expected in late August.
Top Rated Comments
I am thinking that this investment is something to do with the pile of money sitting outside of US which has to be spent outside of US.
Looks like India isn't going to work out....so on to the next!I am thinking that this investment is something to do with the pile of money sitting outside of US which has to be spent outside of US.
There is certainly an incentive to get these type of things done before they update the tax laws to the point where apple "can't" avoid taxes without looking really bad. In the mean time, just 200 more projects to go!