<article>Electronics major <a href="http://www.samsung.com">Samsung </a>plans expand it&#8217;s smartphone manufacturing facility in Vietnam by investing $3 billion in a second plant, next to its existing facility in the country&#8217;s Thai Nguyen province.</article>

Electronics major <a href="http://www.samsung.com">Samsung </a>plans expand it&#8217;s smartphone manufacturing facility in Vietnam by investing $3 billion in a second plant, next to its existing facility in the country&#8217;s Thai Nguyen province.
Thai Nguyen province has officially granted an investment license to Samsung Electronics Vietnam Thainguyen (SEVT) for building the new mobile phone factory, next to its first $2 billion plant that went into operation in March 2014.
This deal will increase Samsung’s total Vietnam investment to $11.2 billion.
The plant, in operation will take the total Vietnam workforce number to beyond 100,000. Already, 43,000 workers are employed at the Samsung BacNinh, while 23,000 personnel work at the SEVT.
“Samsung is committed to disburse the $ three billion investment over the course of five years, but the pace could be hastened” said a Samsung’s representative. According to him, the first plant of SEVT had disbursed about $1.5 billion after 1.5 years of construction, and became the FDI (foreign direct investment) project, with one of the fastest rate of disbursement in Vietnam.
Samsung Electronics has already invested $ 8.9 billion in different projects at Thainguyen (about $5 billion), BacNinh ($ 2.5 billion) and at a factory at Saigon High-tech Park ($ 1.4 billion). The remaining investment has been done by other group companies like the <a href="http://www.samsungsem.co.kr/" target="_blank">Samsung Electro-Mechanics</a> ($1.23 billion investment for manufacturing integrated circuit and electronic components for Samsung phones, expected to go into operation in December this year) and<a href="https://www.samsungdisplay.com/eng/index/index.jsp"> Samsung Display</a> Company (US $ one billion, specialises in production of screens with higher resolution).
Mobile phones and accessories are two of the main contributors to Vietnam’s export this year &#8211; export revenue reached $19.2 billion for the first nine months. Currently, Samsung contributes to nearly 20% of the total export turnover of Vietnam.

Samsung to invest $3b in Vietnam phone facility

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Samsung to invest $3b in Vietnam phone facility

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