Samsung Electronics Vietnam hits US$1 billion in export turnover

On September 17, at the Yen Phong industrial park in Bac Ninh province, Samsung Electronics Vietnam (SEV) held a ceremony to celebrate achieving an export turnover of US$1 billion.

Samsung and the Republic of Korea (RoK) have jointly invested in 32 industrial projects with a total registered capital of US$916.3 million, ranking first in capital and number of FDI projects in Bac Ninh.

Deputy Prime Minister Hoang Trung Hai praised SEV’s efforts to develop Bac Ninh into a modern industrial province by 2015, saying its US$1 billion export turnover marks a new level of growth in production and business operations in the province.

Mr Hai said the Government will create the best possible conditions for the company to expand production and call for more RoK investment in Vietnam.

SEV began its operation in Vietnam in April, 2009, with a total investment capital of US$670 million. To date, it is the first and only mobile phone manufacturer with a complete operational model in Vietnam.

From July, 2009 to September, 2010, SEV increased its production capacity by six-fold, from 1 million products per month to more than 6 million.

SEV currently employs around 7,000 workers, three times as many as last year. Ninety percent of SEV’s mobile phone products are exported to 53 countries and territories around the world.

SEV ranks seventh among Samsung’s mobile phone manufacturers in the world and Vietnam was the fifth country to have a Samsung production facility after RoK, China, India and Brazil. – VOV

Tags: Samsung Electronics Vietnam