Business
Samsung begins construction of production complex in HCM City
Samsung Electronics from the Republic of Korea officially started construction on a production complex at a hi-tech zone in HCM City on May 19.
The zone aims to manufacture household electronic products, digital televisions and printers.
The complex is built on an area of 70 hectares with a total investment of 1.4 billion USD. The project’s first phase is expected to become operational in the second quarter of 2016.
This complex will focus on researching and manufacturing high-grade TV products such as SUHD TV, Smart TV and LED TV.
Speaking at the ceremony, Minister of Science and Technology Nguyen Quan said Vietnam highly appreciates the Samsung's establishment of research centers in Hanoi and HCM City. This is a new step in the cooperation on science-technology, as well as socio-economy, to ensure the sustainable development of the global integration.
The Republic of Korea has the largest number of foreign-invested projects in Vietnam with about 13 billion USD funnelled into the country by Samsung alone, he added.
As a crucial link in Samsung’s global TV supply chain, the project will promote Vietnam’s support industry, Quan noted, adding that it also reflects increasing confidence of foreign investors in the domestic business climate.
Samsung has invested in Vietnam since 1995 and has been expanding production with large projects in the northern provinces of Bac Ninh, Thai Nguyen and HCM City.
The complex is built on an area of 70 hectares with a total investment of 1.4 billion USD. The project’s first phase is expected to become operational in the second quarter of 2016.
The delegates attend the ceremony
|
Speaking at the ceremony, Minister of Science and Technology Nguyen Quan said Vietnam highly appreciates the Samsung's establishment of research centers in Hanoi and HCM City. This is a new step in the cooperation on science-technology, as well as socio-economy, to ensure the sustainable development of the global integration.
The Republic of Korea has the largest number of foreign-invested projects in Vietnam with about 13 billion USD funnelled into the country by Samsung alone, he added.
As a crucial link in Samsung’s global TV supply chain, the project will promote Vietnam’s support industry, Quan noted, adding that it also reflects increasing confidence of foreign investors in the domestic business climate.
Samsung has invested in Vietnam since 1995 and has been expanding production with large projects in the northern provinces of Bac Ninh, Thai Nguyen and HCM City.
