Starting to build Samsung’s factory in Yen Binh Industrial Zone

On 25th March, in Yen Binh Industrial Zone (Pho Yen), Samsung Group (Korea) held a commencement ceremony for construction of the second Samsung’s factory specialized in producing mobile phones and high-tech electronic products in Vietnam. Attending the ceremony were Mr. Nguyen Tan Dung, the Prime Minister of the Government; Mr. Vu Duc Dam, Member of the Party Central Committee, Minister-Chairman of the Office of the Government ; Mr. Bui Quang Vinh, Member of the Party Central Committee, Minister of Planning and Investment, Mr. Nguyen Quan, Member of the Party Central Committee, Minister of Science and Technology; Mr. Nguyen Bac Son, Member of the Party Central Committee, Minister of Information and Communication; Mr. Pham Xuan Duong, Member of the Party Central Committee, Deputy Head of the Central Economic Commission, Leader of the Thai Nguyen Congress Delegation; Mr. Nguyen Dinh Phach, Member of the Party Central Committee, the Provincial Party Committee Secretary. There was also participation of representatives of the South Korean Embassy in Vietnam, Provincial Standing Committee of the Party, the Provincial People’s Council, Provincial People’s Committee and those of branches, sectors and localities and all people within the Project area.

This is the second complex of Samsung Group in Vietnam, with leased land area of approximately 150 ha. It will be a place where products like cameras, mobile phones and laptops are produced with capacity of 10-15 million of products per month. It is expected that by November 2013, this factory will be put into official operation and attract from 20,000 to 30,000 labors in the province and other localities. The event that Samsung Group invested a great deal of capital in the construction of the second factory in Thai Nguyen affirms the attraction of the investment environment in Vietnam in general and Thai Nguyen in particular, turns Vietnam into one of the great manufacturing centers of Samsung’s mobile over the world, and creates opportunities for Thai Nguyen to become one of high-tech manufacturing centers in the country.

Addressing at the ceremony, Prime Minister Nguyen Tan Dung welcomed when Samsung Group has selected Vietnam as a country where it has made the greatest investment in production over the world. This is a reasonable decision, and the Vietnamese Government always facilitates investors in general and Samsung in particular in a spirit of equality and mutual interests. The Prime Minister reckoned that the High-tech Complex will, in the future, create jobs for tens of thousands of labors, contribute around over 20 billion USD to the annual export turnover of Vietnam and to speed up the development of electronics-supporting industry in the northern region. The construction of the second High-tech complex in Thai Nguyen is a lively evidence for the effective cooperation between Vietnam and Korea”. He also asked Ministries, central branches and Thai Nguyen province, during the implementation, to closely coordinate with the investor to perform in accordance with the regulations effectively and with great effort so that the factory can be completed on schedule and with quality.

The first factory of Samsung Group in Vietnam was located in Bac Ninh province with initial investment of 670 million USD (currently reaching an amount of 1.5 billion USD), which produced famous products namely Galaxy S2, Galaxy S3, Note2 from April, 2009. On the monthly basis, Samsung smart-phone factory in Bac Ninh produced from 13 to 15 million products and over 90% is for export; in 2013, export turnover is expected to reach 15 billion USD. That Samsung Group invested 2 billion USD in the construction of the second factory in Thai Nguyen once again affirms the attraction of the investment environment in Vietnam in general and Thai Nguyen in particular. It helps to bring Vietnam to become one of the great centers of Samsung mobile phone in the world, and creates chances for Vietnam to be one of high-tech manufacturing centers in the region.