Samsung steps up investment in Vietnam manufacturing

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Samsung factory vietnamSouth Korea’s electronics giant Samsung Electronics said on June 28 that it has received approval from the Vietnam government to increase the investment in its plant in the northern Vietnamese province of Bac Ninh from $1.5 billion to $2.5 billion.

The Bac Ninh facility is Samsung’s second largest handset plant in the world after Kumi in South Korea. It opened in 2009 and also produces laptops and other electronic products. Samsung said it wants to expand the factory into a “complex.”

The company has been granted several incentives such as no income tax for four years after the complex breaks even, 50 per cent tax for the next nine years, and 10 per cent from then on. The normal corporate income tax in Vietnam is 25 per cent.

Samsung has so far invested a total of $4.5 billion in Vietnam, including a $2 billion mobile phone and tablet computer factory in another northern province, Thai Nguyen, according to Thanh Nien News.

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Reading Time: 1 minute

South Korea’s electronics giant Samsung Electronics said on June 28 that it has received approval from the Vietnam government to increase the investment in its plant in the northern Vietnamese province of Bac Ninh from $1.5 billion to $2.5 billion.

Reading Time: 1 minute

Samsung factory vietnamSouth Korea’s electronics giant Samsung Electronics said on June 28 that it has received approval from the Vietnam government to increase the investment in its plant in the northern Vietnamese province of Bac Ninh from $1.5 billion to $2.5 billion.

The Bac Ninh facility is Samsung’s second largest handset plant in the world after Kumi in South Korea. It opened in 2009 and also produces laptops and other electronic products. Samsung said it wants to expand the factory into a “complex.”

The company has been granted several incentives such as no income tax for four years after the complex breaks even, 50 per cent tax for the next nine years, and 10 per cent from then on. The normal corporate income tax in Vietnam is 25 per cent.

Samsung has so far invested a total of $4.5 billion in Vietnam, including a $2 billion mobile phone and tablet computer factory in another northern province, Thai Nguyen, according to Thanh Nien News.

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