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New $1.4 billion Samsung project underway

Released at: 14:29, 22/04/2015

New $1.4 billion Samsung project underway

Construction of new HCMC production base to begin in May and be completed in 12 months.

by Son Ho

Samsung will begin construction in mid-May of the Samsung CE Ho Chi Minh Complex (SEHC) at the Ho Chi Minh Hi-tech Park, with investment capital of $1.4 billion.

The complex will cover 70 hectares and go into operation after a year of construction. A large-scale complex, SEHC targets export markets in the region and around the world.

The complex includes research and development (R&D) activities and the manufacture of hi-tech consumer electronic products, according to the plan Samsung released in October last year. In the first period it will focus on consumer electronic goods such as Smart TVs, LCD TVs, and LED TVs. Other consumer electronic goods will be the focus in the second period.

“The complex will be a combination zone of high technology, similar to our facilities in northern Bac Ninh and Thai Nguyen provinces,” Mr. Nguyen Van Dao, Deputy General Director of Samsung Vina, said at the launch of the curved screen SUHD TV last week in central Da Nang city. “It will specialize in supplying products for the global market so will use a high quality production line.”

Vietnam will therefore not only be a mobile production base for Samsung but also a base for TVs and other consumer electric products.

Samsung first invested in Vietnam in 1995 but has increased its investment significantly in recent years, with the two high-tech facilities in Bac Ninh and Thai Nguyen specializing in manufacturing mobile devices and mobile accessories. Total investment now stands at $7.5 billion. The Bac Ninh and Thai Nguyen facilities exported over $26.25 billion worth of products last year, making a substantial contribution to Vietnam’s overall export picture.

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