HCM City funds infrastructure for Samsung project
HCM City funds infrastructure for Samsung project
The government of HCMC is spending around VND1 trillion developing infrastructure and building facilities to support the implementation of Samsung’s US$1.4-billion electronics project at the Saigon Hi-Tech Park (SHTP).
HCMC chairman Le Hoang Quan unveiled the huge spending at a meeting with Han Myoung Sup, general director of Samsung Vietnam, and some senior representatives of Samsung in Vietnam in the city on January 21.
Han has been appointed to head all projects of Samsung in Vietnam, including the Samsung CE Complex (SECC) at SHTP, which was licensed last October.
According to Quan, the city government is urgently developing facilities on 70 hectares of land at SHTP planned for SECC, leveling the site and building roads so that Samsung can have cleared land on schedule. The budget for all these works is VND1 trillion, he said.
Han said at the meeting that Samsung has implemented many projects in Southeast Asia but the project in HCMC is important. Samsung is trying to put it into operation around this time next year.
The latest smart TVs will be turned out in the first phase of the project before the production of household electronic appliances.
Earlier, the authority of SHTP revealed that in addition to smart TVs, Samsung will manufacture air conditioners, refrigerators and washing machines, of which Samsung wants to boost local sales.
SECC will also have a research and development (R&D) center supporting the project.
The project, once completed, will be able to employ around 6,000 workers. According to Han, like other projects of Samsung, the group will invest in good facilities for its employers to work and live.
Under the initial plan, phase one of the project will be operation in the second quarter of next year. However, Quan hoped the project could produce the first curved screen TV on September 2 to mark Vietnam’s 70th National Day.
SECC is also the project with the biggest registered capital at SHTP, exceeding the US$1-billion project of Intel licensed in 2006.
HCMC expects Samsung’s project will help spur exports of the city, increase domestic production value in hi-tech goods exports and improve the skills of hi-tech manpower in the coming time.
Samsung currently has two electronics complexes worth billions of U.S. dollars in the northern provinces of Bac Ninh and Thai Nguyen. These complexes have created jobs for nearly 60,000 laborers and generated dozens of billions of dollars in export revenue.
Around 35% of Samsung cell phones available for purchase on global markets are manufactured and assembled at Samsung’s plants in Vietnam and the ratio will be raised to some 50% in the coming time.
