Samsung has invested nearly $18 bln in Vietnam

By Anh Minh   December 6, 2021 | 11:48 pm PT
Samsung has invested nearly $18 bln in Vietnam
Samsung's plant in the northern province of Bac Ninh. Photo courtesy of Samsung Vietnam
Samsung has invested $17.74 billion in Vietnam in the last 24 years, 29 percent of it in the last five.

With eight manufacturing and research facilities in the country, the South Korean electronics giant achieved revenues of nearly $60.5 billion in the first 10 months of this year, Samsung Vietnam CEO Choi Joo Ho told Deputy Prime Minister Le Minh Khai at a meeting in Hanoi Monday.

It marked a 15 percent year-on-year rise despite the challenges to keeping factories going and sourcing parts amid Covid-19, he said.

Exports accounted for nearly 89 percent of the revenues, he added.

The company is building a $220-million research and development center in Hanoi, the first of its kind outside of its home country.

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