The Korean company has not been able to start construction on a research and development centre in Hanoi three years after it received investment licence.
Samsung Vietnam is seeking approval of Hanoi authorities to relocate its research and development centre to the West Lake area.
The project, which received investment certificate in March 2016 with registered capital of $300 million, was initially reported to be located at The Manor Central Park township along Nguyen Xien street in Hoang Mai district.
Samsung Vietnam general director Choi Joo-ho told Hanoi People’s Committee chairman Nguyen Duc Chung in a recent meeting that the company planned to build an 18-storey tower on an area of 1.1 hectares in the Starlake township.
The centre which can accommodate 3,000 people will research and develop smartphones and internet equipment.
Choi asked Hanoi authorities to create favorable conditions for the centre to be built, which will take two years to complete.
The area where Samsung plans to build its research centre is being developed by South Korean-backed THT Development Co. Ltd.
The 180-hectare township has managed to attract a number of South Korean investors such as CJ Group and E-Mart to build commercial properties.
Whilst waiting for its official site in Hanoi, Samsung is operating a similar centre at PVI Tower, which is employing more than 2,000 engineers and workers.
Since 2012, the centre has been responsible for researching and developing software for mobile phones and tablet products in Southeast Asia. Among them, there are many projects in which Vietnamese engineers play an important role.
In addition to the centre in Hanoi, Samsung has developed another centre in Ho Chi Minh City, focusing on electronic appliances.
Samsung is currently the biggest foreign investor in Vietnam, operating six factories which earned $60 billion in export revenue last year, or equivalent to 25 per cent of the country’s export turnover.
Tags:
Tags:
Vietnam's marketing technology landscape is evolving rapidly, propelled by a niche group of "whale" users who are driving a large portion of in-app purchases.
This agreement marks a significant step forward in the collaboration between two major automotive companies from Vietnam and China.
SuperPort Vietnam is set to become a multimodal logistics hub, linking China and Southeast Asia's freight networks with global markets.
Foreign capital is anticipated to aid TNH Hospital Group Joint Stock Company (TNH) in realizing its ambitious expansion plans.
While major consumer finance firms in Vietnam have reported strong growth, Mcredit posted an unexpected 87 per cent drop in profit for the first half of 2024.
Well-managed companies not only seek capital but also maximize their investments, creating a solid foundation for long-term growth.
