Samsung to build hi-tech factory in Ho Chi Minh City
The Republic of Korea’s Samsung Group will invest over 1 billion USD in the construction of an electronics production factory in Ho Chi Minh City’ Saigon Hi-tech Park.
The Republic of Korea’s Samsung Group will invest over 1 billion USD inthe construction of an electronics production factory in Ho Chi MinhCity’ Saigon Hi-tech Park.
Vice Chairman of the municipalPeople’s Committee Le Manh Ha said that this is a positive signalfollowing recent disturbances in several localities, which took placeduring demonstrations against China’s act of illegally stationing itsoil rig in Vietnam’s waters.
Samsung’s decision shows thatinvestors still retain their confidence in the city’s efforts to promoteadministrative reform and offer preferential policies to foreignbusinesses, he added. Entering Vietnam in 1995, Samsung isrunning two mobile-phone factories in the north of the country, namelySamsung Electronics Vietnam (SEV) in Bac Ninh and Samsung ElectronicsVietnam Thai Nguyen (SEVT).
In March 2013, the group beganthe construction of a second hi-tech complex in Thai Nguyen, at a costof 2 billion USD, which will house the largest Samsung mobile phonefactory in the world.-VNA
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