Giant Republic of Korea’s companies like Samsung, LG, Hyundai, Doosan,Posco have turned Vietnam into their global production base byceaselessly expanding investment.
It has contributed to promote Vietnam's industrialisation processing and exporting growth.
Sincebeginning production in April 2009 Samsung Corporation has increasedits investment from the original 670 million USD to 2.5 billion USD now.Samsung Electronics Vietnam (SEV) has also contributed greatly to thedevelopment of the country's electronics sector and exports.
Lastyear, for instance, it exported phones and parts worth 23.9 billionUSD, or 18 percent of all of Vietnam's exports. The figure is expectedto increase to 30 billion USD this year when its Thai Nguyen provinceplant reaches full production.
Samsung wants to make Vietnam a global production base.
Itnow has five phone and electronic components production factories, andplans to build a 1.4 billion USD plant in Ho Chi Minh City to produceelectronic appliances, and others in Dong Nai, Ha Tinh, and Khanh Hoafor its infrastructure, energy and ship building businesses.
SamsungCE Complex Electronic Co., to come up at the Sai Gon Hi-tech Park inHCM City, received the licence on October 1 from General Secretary ofthe Communist Party of Vietnam Nguyen Phu Trong, who is on an ongoingvisit to the Republic of Korea.
The factory will produce 3D smartTVs, refrigerators, air- conditioners, and washing machines starting inthe second quarter of 2016. It will also have an R&D centre.
Aftersuccessfully producing in Vietnam, LG decided last year to expand withan electronic appliances factory in Hai Phong to add to its existingones in the northern port city and in Hung Yen province.
A fewweeks ago it signed an MoU with the Kinh Bac Group to lease more land atthe Trang Due Industrial Park in Hai Phong to expand production, makingVietnam a key base.
In November Posco Special Steel's 600 million USD factory will go on stream and annually produce one million tonnes of ingots.
Kumho Asiana plans to expand its Kumho Tires plant in Binh Duong at a cost of 300 million USD.
Doosan Vina also plans to expand its existing operations at the Dung Quat Economic Zone, Quang Ngai.
Accordingto data from the Foreign Investment Agency, in the year-to-date theRepublic of Korea has invested 3.35 billion USD to become the biggestinvestor in Vietnam.
Park Chang Eun, Deputy Director of KoreaTrade and Investment Promotion Agency, said the investments wouldcontinue to increase because many large Korean corporations areconsidering expansion plans in Vietnam, which has become an importantinvestment destination for them.
Shinsegae, one of Korea'sleading retail groups, also wants to do business in Vietnam while onemonth ago, Lotte inaugurated its Lotte Center, the second highestbuilding in Hanoi.-VNA
It has contributed to promote Vietnam's industrialisation processing and exporting growth.
Sincebeginning production in April 2009 Samsung Corporation has increasedits investment from the original 670 million USD to 2.5 billion USD now.Samsung Electronics Vietnam (SEV) has also contributed greatly to thedevelopment of the country's electronics sector and exports.
Lastyear, for instance, it exported phones and parts worth 23.9 billionUSD, or 18 percent of all of Vietnam's exports. The figure is expectedto increase to 30 billion USD this year when its Thai Nguyen provinceplant reaches full production.
Samsung wants to make Vietnam a global production base.
Itnow has five phone and electronic components production factories, andplans to build a 1.4 billion USD plant in Ho Chi Minh City to produceelectronic appliances, and others in Dong Nai, Ha Tinh, and Khanh Hoafor its infrastructure, energy and ship building businesses.
SamsungCE Complex Electronic Co., to come up at the Sai Gon Hi-tech Park inHCM City, received the licence on October 1 from General Secretary ofthe Communist Party of Vietnam Nguyen Phu Trong, who is on an ongoingvisit to the Republic of Korea.
The factory will produce 3D smartTVs, refrigerators, air- conditioners, and washing machines starting inthe second quarter of 2016. It will also have an R&D centre.
Aftersuccessfully producing in Vietnam, LG decided last year to expand withan electronic appliances factory in Hai Phong to add to its existingones in the northern port city and in Hung Yen province.
A fewweeks ago it signed an MoU with the Kinh Bac Group to lease more land atthe Trang Due Industrial Park in Hai Phong to expand production, makingVietnam a key base.
In November Posco Special Steel's 600 million USD factory will go on stream and annually produce one million tonnes of ingots.
Kumho Asiana plans to expand its Kumho Tires plant in Binh Duong at a cost of 300 million USD.
Doosan Vina also plans to expand its existing operations at the Dung Quat Economic Zone, Quang Ngai.
Accordingto data from the Foreign Investment Agency, in the year-to-date theRepublic of Korea has invested 3.35 billion USD to become the biggestinvestor in Vietnam.
Park Chang Eun, Deputy Director of KoreaTrade and Investment Promotion Agency, said the investments wouldcontinue to increase because many large Korean corporations areconsidering expansion plans in Vietnam, which has become an importantinvestment destination for them.
Shinsegae, one of Korea'sleading retail groups, also wants to do business in Vietnam while onemonth ago, Lotte inaugurated its Lotte Center, the second highestbuilding in Hanoi.-VNA
