Samsung Electronics decides to further expand production in Vietnam, its largest handset manufacturing base

According to Reuters, on Friday, Samsung Electronics Co-CEO Gao Dongzhen told the Vietnamese Prime Minister Nguyen Xuan Phuc that the company decided to further expand production in Vietnam.

The Vietnamese government issued a statement on its website that Samsung will recruit more Vietnamese employees in Bac Ninh province and elsewhere to develop electronic products in smart cities.

Samsung is Vietnam's largest foreign investor, accounting for about a quarter of Vietnam’s total export revenue.

The statement stated that Qi Chunfu told Gao Dongzhen that Vietnam has always been willing to create the most favorable conditions for Samsung's development in the country.

The Vietnamese government stated that Samsung has invested 17.3 billion U.S. dollars (approximately 108.9 billion U.S. dollars) in eight factories and a research and development center in Vietnam, which makes the country the largest smartphone production base for Samsung.

Last year, the total export of Samsung Electronics' factories in Vietnam was 54 billion U.S. dollars (about 339.9 billion U.S. dollars).

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