JavaScript is off. Please enable to view full site.

Samsung denies it plans new plant in northern Vietnam

Samsung denies it plans new plant in northern Vietnam

Sunday, September 29, 2019, 10:06 GMT+7
Samsung denies it plans new plant in northern Vietnam
The logo of Samsung Electronics is seen at its office building in Seoul, South Korea January 7, 2019. Photo: Reuters

Samsung Electronics Co Ltd said on Friday that it has no plans to build a factory in Vietnam’s northern province of Hoa Binh, after a provincial official said the South Korean group had been looking to lease land.

Samsung, Vietnam’s largest single foreign investor, already has eight factories and a research and development center in the country.

“Samsung Vietnam denies the rumor that it has considered building a new factory in Hoa Binh,” Samsung Electronics’ Vietnamese subsidiary Samsung Vietnam said in an emailed statement.

The statement came after a senior official of the province, who did not wish to be identified, told Reuters that Samsung was looking to lease an area of 500-1,000 hectares in Hoa Binh province to build a factory to produce electronics products.

Samsung Vietnam, in its statement, said there had been no discussions with the local government in Hoa Binh on the lease of land.

The plans were also announced on the official website of the province but then removed after Samsung’s denial statement. The official had no further comment.

Samsung has invested more than $17.3 billion in Vietnam and accounts for around one-fifth of the country’s total exports.

Vietnam’s exports of smartphones and electronic components, mostly produced by Samsung Electronics, rose 5.6% in the first eight months of 2019 from a year earlier to $33.39 billion, according to government data.



Read more




‘Taste of Australia’ gala dinner held in Ho Chi Minh City after 2-year hiatus

Taste of Australia Gala Reception has returned to the Park Hyatt Hotel in Ho Chi Minh City's District 1 after a two-year hiatus due to the COVID-19 pandemic

Vietnamese woman gives unconditional love to hundreds of adopted children

Despite her own immense hardship, she has taken in and cared for hundreds of orphans over the past three decades.

Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Latest news