Speculations suggest that Samsung is planning to expand its semiconductor operations in Vietnam, already its major manufacturing and export base. Government push is aiding the plan.
Samsung Electronics is reportedly looking to broaden its semiconductor activities by setting up an assembly line in Vietnam, according to Digitimes Asia. The company already manufactures nearly 50% of its smartphones in the country.
This potential expansion supports the Vietnamese government’s enthusiasm for drawing high-tech investments and strengthening the country’s role as an emerging technology manufacturing centre.
It has been further reported that the government has provided Samsung with various incentive schemes, although the location and financial information of the venture are yet to be disclosed.
Samsung already operates extensively in Vietnam, focusing on mobile devices and consumer electronics. According to the report, this move would strengthen Samsung’s global supply chain and boost Vietnam’s semiconductor sector, aiding its economic and technological progress.
According to a report by the Korean Herald last month, Samsung Electronics Chairman Lee Jae-Yong reaffirmed his commitment to increasing investment in Vietnam during a meeting with Vietnamese Prime Minister Pham Minh Chinh in Seoul.
Lee stated plans to establish Samsung’s “largest” display module production base in Vietnam over the next three years.
Prime Minister Pham expressed gratitude for Samsung’s investments and assured government support for creating favourable conditions for the company’s operations, including new laws to support advanced technology investments. He also requested that Samsung assist Vietnamese firms in enhancing their competitiveness and integrating into Samsung’s supply chain.
Samsung has invested $22.4 billion in Vietnam, employing about 90,000 people and exporting $55.7 billion in 2023.
