Samsung will build a plant in Vietnam for $ 1 billion

Samsung will build a plant in Vietnam for $ 1 billion

Samsung Electronics plans to invest about $ 1 billion in the construction of a large factory in Vietnam. For Samsung is the third production site in the country. Investors say that Vietnam, with its low levels of personnel costs and the ever increasing quality of the staff is becoming increasingly attractive destination for electronics manufacturers. new factory Samsung, is likely to be built in Ho Chi Minh City Hi-Tech Park, says Le Mans Ha, Deputy Minister of Economy Vietnam. He did not mention the time frame construction as well as the exact dimensions of the plant. 

Local media said that Samsung has not yet started construction as the project has not yet been agreed with the authorities. The press service of Samsung did not comment on plans for the construction of the plant. Experts note that Samsung plans on construction coincide with large-scale reforms in the Vietnamese economy. Over recent years there has grown significantly exports of high technology products. If before Vietnam was basically a platform for agricultural and textile industry, now here is observed coming high-tech companies.

Over the past couple of years there have opened their factories of LG Electronics, Foxconn, and others. Many companies are going to invest in production here. According to economists, now the population of Vietnam is about 90 million people, the wages are lower than in neighboring China, and the number of technically-educated professionals is growing. In the near future in Vietnam are planning to open a production capacity of Canon and Intel. 

Last year, Samsung has already invested $ 2 billion in complex Tai Nguyen in the north. In 2009, the company invested $ 2.5 billion to build a plant in the province of Bac-Ning north of Hanoi. Both plants specialize in the production of mobile phones.