Samsung Opens US$700 Million Cellphone Plant in Vietnam

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Oct. 30 – South Korea’s Samsung Electronics has recently opened a US$700 million plant in Yen Phong Industrial Park located in the northern province of Bac Ninh, making it the first cellphone plant in the country and Samsung’s seventh in the world.

The new plant will manufacture 1.5 million mobile handsets monthly to be sold locally and overseas. Annual output is expected to reach 100 million by 2012 while employing 8,000 people more from its current staff of 2,000.

During the plant’s inauguration, Prime Minister Nguyen Tan Dung was quoted by Thanh Nien News in a speech that the government would provide favorable conditions for the plant to develop as planned.

The company is the world’s second largest maker of mobile phones.  The new plant is expected to fulfill mobile phone demand in Southeast Asian, Middle Eastern and African markets and eventually to Europe and Australia.