Reports Say Samsung has Applied for License Seeking to Invest $3 Billion In Vietnam
A news paper reported that Samsung, the electronics company from South Korea has applied for a licence for investing $3 billion, for setting up a mobile phone plant in northern Vietnam. This will be the second one of its kind in the country.
Samsung's subsidiary unit in Vietnam plans to build the new facility in Thai Nguyen province. In March the company has already started a smartphone factory investing $2 billion.
Last month the company made an announcement that it planned to invest $14.7 billion by 2017. It said it will be spending the amount for building a new plant for making memory chip or logic chip in South Korea.
Previously, Samsung has invested $1.7 billion last year in its Shanghai-based plant. Apart from these the company is also engaged in building a chip complex worth $7 billion in Xi'an. It is an industrial city located in north-western China.
The company's investments in Kunshan be used for building workshops and setting research facilities along with purchasing equipments to support a project that is related to chip carrier.
Manufacturing activities are rapidly growing in China. The electronics industry with assembly lines is majorly taking up the place of low-margin products like toys and textiles.
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