Samsung Satellite Firms Plan Investments in Northern Vietnam
More than ten satellite companies of South Korea’s Samsung Electronics Co. Ltd. have planned to invest in Que Vo Industrial Park (IP) in the northern province of Bac Ninh, Chairman of the IP’s investor, Kinh Bac City Development Share Holding Corp, Dang Thanh Tam said.
The companies want to build factories to provide components for Samsung’s US$670-million mobile phone plant in the province’s Yen Phong IP which came into operation in October, Mr. Tam said.
He said that at least four satellite factories are expected to become operational in early the second quarter of 2010.
Samsung Chairman Choi Gee-Sung said his company will quadruple the mobile phone plant in Yen Phong IP to 6 million products per month, hoped to create 10,000 jobs from the current 2,000.
The plant’s products will be exported to Europe, Australia and CIS countries. (Saigon Economic Times)
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