Samsung plans to start producing semiconductor components in Vietnam in 2023

Recently, according to local media reports in Vietnam, Samsung Electronics is preparing to invest US$300 million to open a new R&D center in Hanoi, Vietnam in the fourth quarter of 2022 or early 2023 at the latest, and plans to start producing chips in Vietnam from mid-2023.Expansion of parts production work in Vietnam.It is worth noting that Samsung President Lu Taiwen also met with Vietnamese Prime Minister Pham Minh Chin recently. It is reported that he is preparing for the next plan.

It is reported that Samsung Electronics is preparing the conditions for trial production of semiconductor chip grid products, which will be mass-produced at Samsung Electro-Mechanics Vietnam’s Thai Nguyen factory in July 2023; it is expected to open an R&D center in Hanoi by the end of 2022 and early 2023, which is also Samsung's R&D center not only for Vietnam but also for Southeast Asia, and about 85% of it has been completed.

Samsung President Roh Tae Van said that Samsung plans to invest another US$3.3 billion and promote cooperation with Vietnamese universities and research institutions.

Vietnamese Prime Minister Pham Minh Chin believes that Samsung has developed efficient business in the field of mobile phones and home appliances, and semiconductor production is expected to form a Samsung electronic product production supply chain in Vietnam.

Data show that South Korea is currently Vietnam's third largest trading partner after China and the United States, and about 60% of Samsung's smartphones are produced in Vietnam.In the first half of 2022, Samsung Vietnam's export revenue was US$34.3 billion, up 18% from the same period last year.The group is targeting an export turnover of US$69 billion this year, equivalent to 20.5% of the value of Vietnam’s merchandise exports last year (US$336.31 billion).As of June 2022, Samsung Electronics has invested more than US$20 billion in Vietnam, about 28 times its original commitment.

Editor: Xinzhixun-Linzi