Samsung to build hi-tech factory in Ho Chi Minh City - Samsung to build hi-tech factory in Ho Chi Minh City - Website 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.
Vice Chairman of the municipal People’s Committee Le Manh Ha said that this is a positive signal following recent disturbances in several localities, which took place during demonstrations against China’s act of illegally stationing its oil rig in Vietnam’s waters.
Samsung’s decision shows that investors still retain their confidence in the city’s efforts to promote administrative reform and offer preferential policies to foreign businesses, he added.
Entering Vietnam in 1995, Samsung is running two mobile-phone factories in the north of the country, namely Samsung Electronics Vietnam (SEV) in Bac Ninh and Samsung Electronics Vietnam Thai Nguyen (SEVT).
In March 2013, the group began the construction of a second hi-tech complex in Thai Nguyen, at a cost of 2 billion USD, which will house the largest Samsung mobile phone factory in the world.