Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Samsung Electronics considering building another Vietnam plant: local official

Stock Markets Sep 27, 2019 03:11AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
 
005930
+0.95%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Khanh Vu and Phuong Nguyen

HANOI (Reuters) - Samsung Electronics Co Ltd (KS:005930) is studying the possibility of building another factory in northern Vietnam, already the South Korean electronics giant's key production base, a local official said on Friday.

"Samsung is looking to lease an area of 500-1,000 hectares in Hoa Binh province to build a factory to produce electronics products," a senior official of the province told Reuters.

Samsung, which has invested more than $17.3 billion in eight factories and a research and development center in Vietnam, is the country's largest single foreign investor and accounts for around one-fifth of total exports.

"We welcome the investment from Samsung and will create the most favorable conditions for the company to do business here, in terms of infrastructure, labor and administrative procedures," said the official, who was not authorized to speak with media on the matter and so declined to be identified.

Samsung did not respond to Reuters' emails seeking comment.

Vietnam's exports of smartphones and electronic components, mostly produced by Samsung Electronics, rose 5.6% in the first eight months of 2019 compared with the same period a year earlier to $33.39 billion, government customs data showed.

Samsung Electronics considering building another Vietnam plant: local official
 

Related Articles

Israel stocks lower at close of trade; TA 35 down 2.12%
Israel stocks lower at close of trade; TA 35 down 2.12% By Investing.com - Oct 02, 2022

Investing.com – Israel stocks were lower after the close on Sunday, as losses in the Banking, Financials and Real Estate sectors led shares lower. At the close in Tel Aviv, the TA...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
Ravi Shastri
Ravi Shastri Sep 27, 2019 9:16PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Vietnam is a communist regime. Soon you will experience another china there, remember the viet cong, now it will be repeated in commerce and econ!
Hong Nguyên
Hong Nguyên Sep 27, 2019 6:28AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Please do not corrupt the government servants Thank You
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email