JavaScript is off. Please enable to view full site.

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.

Reuters

More

Read more

;

Photos

VIDEOS

Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Young maple trees given better protection as Hanoi enters rainy season

The trees are currently growing well, with green leaves and healthy branches.

Hunting skinks for food in southern Vietnam

Skink meat is known to be soft, tasty, and highly nutritious.

Vietnamese-made app allows people to grow real veggies via smartphone

Nguyen Thi Duyen, a young engineer in Hanoi, developed the app and its related services to help busy people create their own veggie gardens.

Chinese tourists hit by Vietnamese over dine and dash

Four Chinese were reportedly injured, with one having a broken arm.

Latest news