Samsung Electronics Ho Chi Minh City Complex (SEHC) starts the construction in May 2015/ (Photo: www.eng.shtp.hochiminhcity.gov.vn)
The Management Board of the Saigon High-Tech Park (SHTP) on December 29 allowed Samsung to expand its existing $1.4 billion Samsung Electronics Ho Chi Minh City Complex (SEHC) by $600 million, bringing the complex’s total investment to $2 billion.
SEHC will set up a research and development center for audiovisual devices and add guarantee services at SHTP, local media reported.
Licensed in October 2014, the South Korean’s electronics major kicked off the construction of the complex in May 2015 on an area of 70 hectares inside SHTP. The complex is expected to come into operation in February 2016.
In the initial phase, SEHC will focus on research and development as well as the production of high-end TV products, such as SUHD TVs, Smart TVs and LED TVs. In the second phase starting 2018, the complex will produce washing machines, fridges, vacuums, and other electronic home appliances, mostly for export.
Entering Vietnam in 1996, Samsung currently has two mobile phone facilities in northern Vietnam. The first one (SEV) has an investment of $2.5 billion Bac Ninh province which became operational in 2009. The remaining one (SEVT) is the $5 billion Samsung Vietnam Electronic Thai Nguyen complex, which came online in March 2014.
The giant has invested a combined $14.8 billion in Vietnam so far, becoming the largest investor in the country. It has expressed interest in several major projects, including Vung Ang 3 thermal-power plant, Long Thanh international airport, and Long Son oil refinery.
The SHTP has recently granted licenses to several projects worth more than $120 million that will provide components for SEHC.