The Republic of Korea’s Samsung Group will invest over US$1 billion in building an electronics production factory in Ho Chi Minh City’s Saigon Hi-tech Park.
Samsung will build an US$1 billion electronics production factory in Ho Chi Minh City’s Saigon Hi-tech Park .
Vice Chairman of the municipal People’s Committee Le Manh Ha said that this was a positive signal following recent disturbances in several localities, which took place during demonstrations against China’s act of illegally stationing its oil rig in Vietnamese waters.
Samsung’s decision shows that investors retained confidence in the city’s efforts to promote administrative reform and offer preferential policies to foreign businesses, he added.
Entering Vietnam in 1995, Samsung has two mobile phone factories in the north of the country, namely Samsung Electronics Vietnam (SEV) in Bac Ninh and Samsung Electronics Vietnam Thai Nguyen (SEVT).
The group began construction of its hi-tech complex in Thai Nguyen in March 2013, with a total investment of US$2 billion, to house the largest Samsung mobile phone factory in the world.
Source : nhandan online