Samsung to build its largest regional R&D centre in Vietnam

By Minh Thu - Jun 18, 2019 | 08:05 AM GMT+7

TheLEADERSamsung Vietnam has carried out necessary procedures to kick off its R&D centre project in Hanoi. Once completed, it is going to be the largest R&D facility in Southeast Asia.

Samsung to build its largest regional R&D centre in Vietnam
Prime Minister Nguyen Xuan Phuc received Samsung Vietnam general director Choi Joo Ho in a meeting held on June 14. Photo by VGP.

Samsung’s plan to build the R&D centre has been appreciated by Prime Minister Nguyen Xuan Phuc in the recent meeting with Samsung Vietnam general director Choi Joo Ho.

According to Phuc, setting up the large-scale R&D centre in the country will further reinforce Samsung’s commitment to do business here. The prime minister has requested Hanoi People’s Committee to provide due support for the Korean-backed conglomerate to turn the project into reality.

Samsung Vietnam is currently contracting an office building to conduct its R&D activities and train its software human resources. It expects to continue training its staff in the fields of 5G, artificial intelligence, big data and others in the time to come to contribute to the development of Vietnam.

As Samsung Vietnam projects its export volume to bolster by 5 per cent this year, Phuc suggested the multinational corporation to upsize its current investment capital worth of $17.4 billion to $20 billion. Vietnam will thus continue supporting Samsung to further expand its operations and activities, in not only the electronics manufacturing capacities but also advanced technologies that go in line with the development of Industry 4.0.

A major Korean semiconductor manufacturer, according to Choi, has been invited by Samsung to invest in Bac Giang province, with a total investment capital of some $500 million, in the near future.

By the end of May 5, 2019, Samsung Vietnam reported $28.5 million in revenue and $24 billion in export volume. These figures are expected to increase to $73.5 billion and $63.5, respectively by the end of this year, an up of 5 per cent on-year.