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