Asianfin -- Shunsin, a subsidiary of Taiwanese electronics giant Foxconn, is pursuing a permit to invest $80 million in northern Vietnam for the production of integrated circuits, as outlined in a document from Vietnam's Ministry of Environment. The planned facility, located in Bac Giang province, will focus on the manufacturing and processing of electronic components, particularly integrated circuit boards. According to the document, Shunsin aims to commence full-scale operations by December 2026, targeting an annual production capacity of 4.5 million units. Shunsin, which is primarily owned by a Foxconn unit, did not immediately respond to inquiries for comment. Foxconn, officially known as Hon Hai Precision Industry, is the world's largest contract electronics manufacturer and assembler and already has significant operations in Vietnam. In July, Foxconn, through its subsidiary Foxconn Singapore, received approval to invest $383 million in a factory for printed circuit boards in northern Vietnam. The ministry's document also noted that all products manufactured at the Shunsin facility in Vietnam will be exported to markets in the United States, European Union, and Japan.