Samsung and its $20 billion plan in VN
Samsung and its $20 billion plan in VN
Besides electronics, Samsung Group also invests in industry, infrastructure, transportation, shipping, and real estate in Vietnam, reports the Ministry of Planning and Investment.
According to the Ministry’s report, this year Samsung invested $5.4 billion in electronic projects in Vietnam, including $1 billion in a factory in Yen Phong, Bac Ninh province, manufacturing screens. This factory will be able to produce 50 million products a year, with production value of $6 billion.
In HCM City, Samsung has invested $1.4 billion in Samsung CE Complex (SECC) in the HCMC High-tech Park.
In Thai Nguyen province, the Korean group is implementing the second phase of the Samsung Thai Nguyen hi-tech complex project with $3 billion.
In the field of infrastructure, the Ministry of Planning and Investment said that Samsung signed a Memorandum of Understanding with the Ministry of Trade and Industry on the development of Vung Ang 3 thermal power plant in Ha Tinh Province in BOT (built-operate-transfer) form, with $2.45 billion of capital.
Samsung is preparing the feasibility report to submit to the Vietnamese Government in February.
In the transport sector, Samsung said it would consider investment in some items of Long Thanh International Airport project.
Also, in the industrial sector, Samsung said the shipyard project in Cam Ranh (Khanh Hoa) may be implemented in late 2015.
"The project has a scale from $2.6 to $2.8 billion, divided into two phases, 2015-2018 and 2018-2025, covering about 300 hectares. It will become one of the 10 largest shipyards in the world," reported the Ministry of Planning and Investment.
In the field of real estate, Samsung has agreed on the location of its R&D Center in the Manor Central Park, Hanoi, and is negotiating investment conditions with the Hanoi Department of Planning and Investment.
As for information technology, Samsung and Viettel are discussing the development of smart bus management and smart healthcare systems in Vietnam.
With these projects, Samsung Group is currently the largest foreign investor in Vietnam, with total registered capital of over $12.6 billion.
According to the Ministry of Planning and Investment, if these projects are carried out, Samsung’s total registered capital in Vietnam may increase to $20 billion by the end of 2017.
Samsung is realizing its plan to turn Vietnam into its "global manufacturing base".
