Samsung steps up investment in Vietnam manufacturing

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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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. 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,...

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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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