Samsung Electronics increases investment in hi-tech project

Tuesday, Dec 29, 2015 15:44

Workers in a Samsung Viet Nam factory. The Samsung Viet Nam Electronic was granted a revised investment certificate on December 29. — Photo

HCM CITY (Biz Hub) — The Sai Gon Hi-Tech Park (SHTP) granted a revised investment certificate to South Korea's Samsung Electronics on December 29.

The certificate allows the firm to increase its investment in the Samsung Consumer Electronics HCM City Complex (SEHC) project from $1.4 billion to $2 billion.

A representative of the SHTP confirmed the report to Biz Hub.

The increased investment will be used for the launch of an electronics test laboratory and a warranty facility within the complex.

The SEHC project received an investment certificate in October last year and its construction began on May 19. The project will be become operational in the second quarter of next year.

It will focus on research and development activities and on the manufacture of sophisticated television sets such SUHD TVs, Smart and LED TVs.

The production of other consumer electronics products such as washing machines, fridges and vacuum cleaners will begin in the second phase of the project.

With this adjustment, Samsung has increased its total investment capital in Viet Nam to US$14.8 billion, including US$9.5 billion of Samsung Electronics. — VNS

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