HANOI – South Korea’s Samsung is looking to foray into new areas in Vietnam such as energy and insurance after it has reaped success in the electronics industry.
At a meeting with Minister of Information and Communications Nguyen Bac Son on September 9, Samsung Vietnam general director Han Myoung-sup said after the success of Samsung Electronics, many other units of the group are seeking to invest in other sectors like energy and insurance.
Han said the total workforce at the Samsung factories in the northern provinces of Bac Ninh and Thai Nguyen has exceeded 110,000. The company has also invested in a research and development center (R&D) in Hanoi with over 1,400 employees and the number is expected to grow to 5,000 in the future.
Son said the ministry would support Samsung’s cooperation with partners in Vietnam and its investments in not only electronics but also in other sectors like aviation infrastructure, oil and gas, and life insurance.
According to the minister, Samsung had exported a combined US$26 billion worth of products made at its electronics complexes in Bac Ninh and Thai Nguyen provinces as of July. The group has registered approximately US$7 billion for these projects.
The government of Bac Ninh Province recently granted an investment certificate to a project worth US$3 billion of Samsung Display Vietnam Co. Ltd. to produce next-generation high-definition screens for mobile devices.
In HCMC, Samsung has begun construction on an electronics complex worth US$1 billion to turn out household appliances and plans to put into operation the facility early next year.
http://english.thesaigontimes.vn/42970/Samsung-to-diversify-operations-in-Vietnam.html (150914)
