Apple supplier Foxconn has signed a $300 million memorandum of understanding with Vietnamese developer Kinh Bac City to expand its operations in the north of the country.
The Taiwanese company plans to build a new factory on a plot of 50.5 hectares in Bac Giang province, which will generate 30,000 local jobs, state media reported.
Neither Foxconn and Kinh Bac City provided any comment on the reported deal.
The move follows on from reports this week that Foxconn has started test production of the Apple Watch in northern Vietnam.
Foxconn has had a presence in Bac Giang for 15 years, and has moved a portion of its iPad and AirPods production to the Quang Chau Industrial Park in the city.
The Vietnamese government said that Foxconn invested $1.5 billion in the country last year.