Samsung targets Vietnam as major production base

Samsung, the South Korean electronics giant, has announced its plan to make Vietnam one of its largest production bases. At the inauguration of its second plant in Vietnam on March 25, the company broke ground for its new facility in Thai Nguyen, around 70km from Hanoi, which will produce handsets and spare parts. The new plant is expected to be the company’s largest handset factory in the world and will produce more than 100 million mobile phones and one million digital cameras.

Samsung Expands Production to Vietnam

The Thai Nguyen plant is scheduled to finish construction by October and begin production the following month. The complex is expected to generate thousands of jobs for locals and produce Samsung’s flagship products such as the Galaxy S3, S4, Galaxy Tab, and Galaxy Note. The presence of Prime Minister Nguyen Tan Dung at the ceremony emphasized the strong partnership between Vietnam and South Korea and the potential for further foreign investment in the country.

Benefits for Vietnam and the Region

Samsung’s expansion in Vietnam is a result of the company’s spectacular growth since its establishment in the country five years ago. The new plant is expected to contribute to the local economy and provide affordable and high-quality products to consumers in the region.

In conclusion, Samsung’s decision to make Vietnam a major production base showcases the country’s growing importance in the global electronics market. The new plant in Thai Nguyen is set to become a key player in the industry and bring new opportunities for economic growth and job creation in the region.