Samsung Electronics to Invest $300 Million for Construction of R&D Center in Vietnam

Mar 25, 2016

Samsung Electronics is going to invest $300 million into Hanoi, which is the capital of Vietnam, to construct a R&D center. Vietnamese Government approved of Samsung Electronics’ plan on the 23rd (Vietnam time).

According to Vietnamese Government Newsletter called VGP News on the 24th, Vietnam’s Prime Minister Nguyen Tan Dung approved of Samsung Electronics Vietnam Corporate’s (SEC) plan to build a mobile communication R&D center on the 23rd. This center will be in operation without having to pay rent for next 50 years.

Chairman Lee Kun-hee of Samsung Electronics (second from the right), who visited Samsung Electronics’ Smartphone factory in Vietnam in October of 2012, is meeting with employees. <Provided by Samsung Electronics> <Chairman Lee Kun-hee of Samsung Electronics (second from the right), who visited Samsung Electronics’ Smartphone factory in Vietnam in October of 2012, is meeting with employees. >

Samsung Electronics is currently operating a R&D center by leasing a building in Hanoi. Due to limited space, Samsung Electronics had pointed out that it was difficult to respond to increase in number of R&D employees that was occurring due to expansion of Vietnamese business. Vietnamese industries predict that as soon as construction of new R&D center is completed, number of presiding employees, which is currently about 1,400, will also increase.

Samsung Electronics currently has Vietnam as its major production base. After preparing a production corporate and factories for Smartphone in Bac Ninh Province, which is near Hanoi, in 2011, Samsung Electronics expanded towards Thai Nguyen Province in 2013. Samsung Electronics is currently constructing a household appliances multipurpose production complex, which is mainly for TVs, in Ho Chi Minh SHTP (Saigon Hi-Tech Park).

Staff Reporter Seo, Hyeongseok | hsseo@etnews.com

Interpretation & Translation_Service Center

Refund Help Center