Thursday October 29, 1:18 PM
Samsung opens Vietnam mobile phone plant
A new Vietnam mobile phone plant opened by South Korea's Samsung Electronics aims to generate an export turnover of five billion dollars annually by 2010, the Vietnamese government said Thursday.
Samsung plans to initially produce 1.5 million handsets a month in its new northern Bac Ninh province plant and hopes to increase the production to six million units a month next year.
The plant, which Samsung says could further expand to produce 100 million units a year, should generate jobs for more than 10,000 workers, the Vietnamese government added on its website.
The South Korean electronics giant announced the plant in 2007, billing it as a major addition to its production capacity. The company produced around 200 million handsets in 2008, Dow Jones Newswires reported.
South Korea is second-largest foreign investor in the communist country, according to Vietnam foreign investment agency.
Last year, the country was also the second-largest bilateral aid donor to Vietnam and its fourth-largest trading partner, with two-way commerce surging to nearly 10 billion dollars, according to Vietnamese official figures.
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