Samsung to build third factory in Viet Nam

Monday, Aug 19, 2013 17:22

Workers assemble components into Samsung mobile phones at its first factory in Bac Ninh Province. Photo

HA NOI (Biz Hub) — Samsung Electro-Mechanics, a member company of South Korean electronics giant Samsung Group, is expected to build a factory to produce integrated circuits and electronic components in the northern province of Thai Nguyen.

With a total investment of US$1.2 billion, the project is scheduled to begin this October and come into operation in August, 2014, by which time the total investment of Samsung Group in Viet Nam will reach $5.7 billion.

Talking with Dau Tu (Investment) newspaper, Phan Manh Cuong, deputy head of the Industrial Zones Management Board of Thai Nguyen Province, said that Samsung submitted the required documents requesting an investment recognition certificate for the Samsung Hi-tech Complex in Yen Binh Industrial Zone.

He added that Samsung expected to receive the certificate in September.

Prior to investing in Viet Nam, the company owns eight factories in China, Thailand and the Philippines thus far.

The company's new factory will be Samsung Group's third investment in Viet Nam.

Samsung began building a second, 100ha area factory, to produce and assemble mobile phones and hi-tech products, on March 25 of this year in the Yen Binh Industrial Zone. Expected to employ around 200,000-300,000 Vietnamese workers, operations at the factory are expected to being in November. The factory will produce mobile phones, cameras and laptops with a capacity of 10-15 million products per month.

Samsung's first factory was constructed in the northern province of Bac Ninh with an initial investment of $670 million (now a total investment of about $1.5 billion). The factory has been selling products since April 2009. Every month the Bac Ninh-based plant produces 13-15 million products and more than 90 per cent of them are exported. — VNS


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