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Samsung to build new $1b factory

Update: June, 07/2014 - 08:23
An employee at the Samsung factory in the northern province of Bac Ninh works on a mobile phone assembly line. The group plans to invest in a US$1 billion electronics manufacturing factory in HCM City. — VNA/VNS Photo Duc Tam

HA NOI  (VNS) — Samsung Group will invest in a US$1 billion electronics manufacturing factory in HCM City, announced the Municipal People's Committee Deputy Chairman Le Manh Ha on Thursday.

While Samsung Group has not yet revealed a detailed plan for the construction, the deputy chairman told Sai Gon Giai Phong (Liberated Saigon) newspaper that the committee has agreed to allow the group to build the factory in the local Hi-Park in Tan Phu District.

To encourage the development of high-tech products, the city will create favourable conditions on procedures to help the group conduct its plan effectively, Ha affirmed.

Samsung entered the local market in 1995 and inaugurated the first $2.5 billion factory in the Bac Ninh Province to manufacture mobile phones in 2009.

In March 2013, the group started the construction of the second $2 billion high-tech complex covering an area of 100ha in the northern Thai Nguyen Province.

Both the factories will employ around 90,000 local workers and export up to $35 billion electronics and mobile phones. —VNS

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