According to reports, Samsung Electronics plans to establish a new semiconductor R&D center in Hanoi, Vietnam in the fourth quarter of this year or early next year, and is scheduled to start producing chips in Vietnam in the middle of next year to expand the chip production layout in Vietnam.
The report pointed out that Samsung plans to invest another $3.3 billion and promote cooperation with Vietnamese universities and research institutions. Vietnamese Prime Minister Pham Minh Chin believes that the production of Samsung semiconductors is expected to form Samsung's electronic product production supply chain in Vietnam.
In the first half of this year, Samsung's export revenue from Vietnam was $34.3 billion, an increase of 18% year-on-year. South Korea has a strong dependency relationship with Vietnam and is the third largest trading partner after China and the United States. As of June 2022, Samsung Group has invested more than US$20 billion in Vietnam.
The report also pointed out that Vietnam has a well-developed port industry and excellent transportation conditions, making it an investment destination for semiconductor companies with great development potential. Numerous semiconductor companies have set up factories in Vietnam, including Hitachi, Toshiba, Qualcomm, Samsung, Broadcom, NXP, Intel, etc.
