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Samsung to increase Vietnam investment to $20B

Samsung to increase Vietnam investment to $20B - Created date07/12/2022

South Korean electronics giant Samsung announced plans Tuesday to increase its investment in Vietnam from $18 billion to $20 billion. Samsung’s new Research and Development Center in Vietnam has been completed and will soon come into operation, focusing on research on phones, computers, and network systems, Vietnam News Agency quoted Han as saying.

In upcoming big fairs, Samsung will exhibit leading hi-tech products and solutions, and if there are partners, the firm will manufacture them in Vietnam. Samsung Electronics Vietnam reported export turnovers of $65.5 billion in 2021, helping turn Vietnam into a global smartphone manufacturing hub. The Vietnamese president also met Tuesday with Hyosung chairman Cho Hyun Joon, who said the South Korean industrial group has invested $3.5 billion in Vietnam.

Source: VnExpress