Tech giant moves on SEHC
Tech giant moves on SEHC
The $1.4bn investment in a hi-tech production complex by the Korean-based giant Samsung is expected to be a new driving force for the development of the Saigon Hi-tech Park in Ho Chi Minh City.
Last week, Samsung Electronics began work on the 70-hectare complex in the hi-tech park, marking 20 years of its development in Vietnam.
Once finished, the Samsung Electronics Ho Chi Minh City Complex (SEHC) will manufacture household electronic products, digital televisions, and printers, with the total output of over 20 million product items per year. The company will focus on the research and development (R&D) as well as the manufacture of high-grade TV products such as SUHD TVs, Smart TVs, and LED TVs in the first phase which is scheduled for operation in the second quarter of 2016. The second phase will manufacture other electronic products, including refrigerators and washing machines.
Kim Jong Ho, president of consumer electronics at Samsung Group, said that “We will build SEHC to be the most modern facility of its kind in the world. This investment affirms our strong belief in Vietnam’s future development.”
As Samsung is committed to the socio-economic development of Ho Chi Minh City, it will help the city increase the localisation intake while investing in R&D activities to strengthen the development of hi-tech industries.
Until 2020, Samsung and Saigon Hi-tech Park (SHTP) will support local enterprises by sharing information about their technical specifications and the products that Samsung would like to buy in Vietnam.
Samsung has had a presence in Vietnam since 1995. Subsequently, the group has developed two hi-tech complexes in the northern provinces of Bac Ninh and Thai Nguyen in 2009 and 2013 respectively, specialising in manufacturing mobile devices and mobile accessories. Its total investment to date, now stands at $7.5 billion in the country and is expected to continue as an innovative force for hi-tech development in the years to come.
