14TH NATIONAL CONGRESS OF THE COMMUNIST PARTY OF VIETNAM

Samsung injects $920 million for operation expansion in Vietnam

Hai Yen

Feb 16, 2022 / 03:12 PM

The latest move would bring the total capital commitment of the South Korean giant to $19.2 billion, reaffirming its status as the largest foreign investor in Vietnam.

The People’s Committee of the northern province of Thai Nguyen today [February 16] awarded the modified investment license for Samsung Electro-Mechanics Vietnam to inject an addition of $920 million into the upgrade of its factory in the province.

Workers at Samsung manufacturing plant in Vietnam. Photo: Samsung

The move would take Samsung investment into the Samsung Electro-Mechanics plant in Thai Nguyen to over $2.27 billion.

Samsung Electro-Mechanics plant manufacture electronic and mechanical components for smartphones, telecom equipment, and hi-tech products.

The South Korean tech corporation started investing in Thai Nguyen Industrial Park in 2013 with an initial registered capital of $1.2 billion, which was later raised to $1.35 billion and has now been fully disbursed.

By late 2021, Samsung Vietnam’s total accumulated investment capital in Vietnam stood at $18 billion. The latest move would bring the total capital commitment of the South Korean giant to $19.2 billion, reaffirming its status as the largest foreign investor in Vietnam.

Samsung Vietnam currently has six manufacturing plants in Bac Ninh, Thai Nguyen, Ho Chi Minh City, and one R&D center in Hanoi.

This investment would help Samsung better meet the market’s growing demands for electronics components.

Samsung Vietnam General Director Choi Joo Ho previously stated the company’s commitment to Vietnam as the country has been poised to become not only Samsung’s global production hub but also a key R&D center soon.

The firm is in the process of building an R&D center in the West of Hanoi with an investment capital of $220 million. As the largest of its kind by a foreign-invested business in Vietnam and Southeast Asia, the center is scheduled to complete by late 2022 and will focus on researching new technologies such as AI, Big Data, or IoT.

Gov’t committed to supporting Samsung in expanding investment in Vietnam

20 Jan, 22:18

The Vietnamese Government sees Samsung as a successful investment model in Vietnam.

Samsung Vietnam reports revenue of US$74.2 billion in 2021

20 Jan, 13:57

Vietnam has exceeded its role as Samsung’s global production hub and would soon become its key R&D center in the future.

Samsung urged to speed up construction on R&D center

06 Dec, 18:14

The South Korean investor considers Vietnam an important global production hub and a strategic destination in its research and development activities.

Vietnam to tax crypto asset transfers at 0.1%

This approach mirrors the current tax calculation applied to securities transactions.

05 Feb, 04:53 PM

Hanoi craft exhibition showcases Tet goods as shopping demand rises

Featuring 100 booths, the exhibition brings together artisans and businesses from Hanoi and neighboring provinces, presenting handicrafts, gifts, decorations and specialty foods, while promoting craft villages and stimulating consumption ahead of the 2026 New Year.

05 Feb, 01:14 PM

Vietnam establishes support body for International Financial Center Council

Beyond internal coordination, the support body undertakes international cooperation, information and communication activities.

05 Feb, 01:04 PM

Hanoi draws US$102 million in foreign direct investment during January

Strong investor activity continued in the capital at the start of the year, as a mix of new projects, capital adjustments and share acquisitions helped reinforce Hanoi’s role in sustaining Vietnam’s positive foreign investment trend.

04 Feb, 10:22 PM

Vietnam pushes rural e-commerce expansion to narrow digital divide nationwide

As Vietnam’s e-commerce market accelerates, attention is shifting toward how national policies and platform-led initiatives can help smaller localities overcome structural barriers, bringing digital trade opportunities to mountainous, border and rural communities.

04 Feb, 09:22 PM