Samsung to build $3 billion plant in VietnamStaff writer ▼ | November 10, 2014
Samsung Electronics has applied for a license to invest $3 billion in building a second smartphone factory in northern Vietnam, a government official said.
Spreading big To compete with Chinese companies
"We are working on the project. There are still a few things to fix.," said the official, confirming an earlier report by newspaper Dau Tu of Vietnam's Planning and Investment Ministry, a newspaper controlled by Vietnam's Planning and Investment Ministry.
Samsung has been increasing production in Vietnam to reduce costs and better compete with the low-priced smartphones of Chinese rivals. ■