Samsung To Invest In Vietnam TV Plant
Samsung Electronics said on Wednesday that it will invest $560 million to build a consumer appliances production complex in Vietnam. Samsung said in a statement the new 700,000 square meter complex will mainly produce televisions.
Samsung heir-apparent Lee Jae-yong met with a delegation of high-ranking Vietnamese officials led by General Secretary of the Communist Party of Vietnam (CPV) Nguyen Phu Trong, late Wednesday, as the company seeks to expand its partnership with the Southeast Asian country.
"Samsung Electronics Vice Chairman Lee Jae-yong discussed pending issues with the CPV leader at our main office in Seocho, southern Seoul, Wednesday," Lee Joon, chief communications officer at the Samsung Future Strategy Office, said at a media briefing.
Samsung's total investment in facilities in Vietnam is estimated at about $8 billion.
Affiliates such as Samsung Electro-Mechanics and Samsung Display also operate manufacturing facilities in the country, while Samsung Heavy Industry is in talks with the country to build a shipyard.
Samsung also has a mobile phone factory in Vietnam with an investment of $3 billion.