FDI in Vietnam according to pundits, illustration photo Shim Won Hwan – President, Samsung Vietnam In 2008, Samsung began the construction of the Samsung Electronics Vietnam (SEV) factory in Bac Ninh. This was the first project of Samsung’s grand investment plan to turn Vietnam into the corporation’s global manufacturing hub. After 10 years, going from the initial investment of $670 million for the SEV factory, Samsung is currently the top foreign investor in Vietnam with the total investment of $17.3 billion, with six factories in Bac Ninh, Thai Nguyen, and Ho Chi Minh City, creating 160,000 jobs. By June 2018, Samsung had produced one billion hi-tech mobile products in Vietnam, including smartphones, tablets, smart watches, and feature phones. In the future, Samsung will work towards maintaining our growth in Vietnam and contributing to the country’s total export turnover as well as developing the Vietnamese economy. We also plan to start producing 5G network equipment in Vietnam soon, which is one of the core technologies of the Fourth Industrial Revolution. Due to the fast-changing nature of the global market, the company’s decisions must also be quick. We always want local officials to simplify and improve administrative procedures in order to help… Read full this story
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