Samsung Vietnam broke ground today [March 2] for its largest R&D center in Southeast Asia in the West of Hanoi, said the company in a statement.
| Perspective view of the Samsung R&D Center in Hanoi. Source: Samsung Vietnam. |
The R&D center project is a result of meetings between Prime Minister Nguyen Xuan Phuc and Samsung’s Vice President Lee Jae-yong in 2018 in Hanoi and 2019 in Seoul.
With investment capital of US$220 million, Samsung’s R&D project covers an area of 11,603 square meters and is set to complete by the end of 2022, stated the company, adding it would employ between 2,200 and 3,000 people.
This is Samsung Electronics’ first R&D center outside South Korea, and also the largest of its kind by a foreign-invested business in Vietnam, Samsung said.
| Construction started today in Hanoi. Source: Samsung Vietnam. |
The project is expected to help enhance research capabilities of Vietnamese engineers not only in products development, but also in artificial intelligence (AI), internet of things (IoT), big data, and the fifth generation (5G) network, among others, creating a solid foundation for Vietnam to grasp opportunities from the Fouth Industrial Revolution.
“The construction of this R&D center marks a strategic milestone of Samsung’s investments in Vietnam. This is where we realize our commitment in contributing to the development of Vietnam’s science and technology sector through training and nurturing local talents,” said Choi Joo HO, CEO of Samsung Vietnam.
In 2008 - 2018, Samsung increased its investment in Vietnam from US$670 million to over US$17.3 billion, a 26-fold increase.
Samsung's statistics revealed around 50% of its smartphones and tablets are produced in Vietnam and exported to 128 countries and territories, including the US, Europe, Russia and Southeast Asia.
The South Korean IT giant expected Vietnam would not only be its largest production hub, but also a strategic base for R&D.
