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Samsung investment in Viet Nam to top $20bn in 2017: ministry

DA NANG Today
Published: December 18, 2014

Samsung is eyeing several new investments in Viet Nam which could help increase its total registered capital in the country to US$20 billion by 2017, among which is the possibility of taking part in the implementation of the multibillion-dollar Long Thanh International Airport project.

The Korean electronics titan is likely to seek investment in several components of the $18.7 billion airport, once it is approved by the National Assembly, the Ministry of Planning and Investment said in a report to the government.

Models pose with Samsung Electronics' Ultra HD LCD televisions during World IT show 2013 at the Coex convention centre in Seoul May 22, 2013. Reuters
Models pose with Samsung Electronics' Ultra HD LCD televisions during World IT show 2013 at the Coex convention centre in Seoul May 22, 2013. Reuters

The document recaps the cooperation with Samsung, which has so far invested almost $13 billion in the Southeast Asian country.

The fields Samsung wants to invest in include terminal constructions, airport operation services, and duty-free trades.

The South Korean firm also plans to build a 300-hectare shipyard in the coastal city of Cam Ranh in Khanh Hoa Province, according to the investment ministry.

The facility is expected to cost $2.6-2.8 billion.

Samsung is running a number of multibillion-dollar projects across Viet Nam.

The company also signed a memorandum of understanding last month to develop a $2.5 billion thermal power plant in Ha Tinh Province.

Samsung’s existing projects in Vietnam include the $2.5 billion manufacture complex in Bac Ninh, the $2 billion complex in Thai Nguyen, and the $36.5 million screen-making factory in Ho Chi Minh City.

The investment ministry projected that Samsung’s total investment in Viet Nam will rise to $20 billion by 2017.

 

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