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Samsung heir visits Vietnam to discuss possible investment plans

Updated: 15:33, 20/10/2020
Samsung Electronics vice chairman Lee Jae-yong departed for Vietnam for a three-day visit to explore business opportunities.

He is scheduled to meet Prime Minister Nguyen Xuan Phuc on Tuesday to discuss possible investment plans and visit Samsung's plants in Hanoi, South Korea’s Yonhap News Agency reported.

The focus will be on whether Lee announces new investment plans including the construction of a factory for electronic-car batteries in Vietnam.

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Samsung Electronics Vice Chairman Lee Jae-yong speaks at the company's headquarters in Seoul, South Korea, June 23, 2015.

Lee is also expected to inspect the progress of a Samsung Electronics research center that is currently under construction in Hanoi, Korea Times reported.

Construction of the $220 million research and development center, the first of its kind outside South Korea, began last March.

It is Lee's first visit to Vietnam since October 2018. He is exempt from mandatory quarantine after the government scrapped the quarantine requirement for foreign managers, investors and diplomats visiting the country for less than 14 days.

Vietnam is Samsung's largest smartphone production base, with half of all its phones being made in the country at plants in Bac Ninh and Thai Nguyen provinces in the north. It has invested over $17 billion in Vietnam so far.

It also has TV and home appliances plants in Ho Chi Minh City.

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(BGO) – The Steering Committee for Covid-19 Prevention and Control in Bac Giang province (Steering Committee) on April 13 issued urgent correspondence to order the People’s Committee in the districts and city to promptly review the Bac Giang’s residents and relevant case working at EQC-SI in SamSung Display Company, Yen Phong Industrial Park (Bac Ninh) who related to patient 262 so as to isolate and take sample for SARS-CoV-2 testing. 
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Prime Minister Nguyen Xuan Phuc on October 11 affirmed that the Vietnamese Government always provides all possible support for investors, including those from the Republic of Korea and Samsung Vietnam, to expand operations in the country.

Source: VnExpress

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