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Samsung announces commencement of $220 million R&D center in Vietnam

Samsung announces commencement of $220 million R&D center in Vietnam
Samsung announces commencement of $220 million R&D center in Vietnam
  • The newly constructed R&D center to facilitate 5G technology along with other next-gen technologies.
  • Infrastructure has been claimed to be the company’s largest in Southern Asia.

One of the leading electronics companies, Samsung, has reportedly announced commencing its USD 220 million research and development project in the state of Hanoi, Vietnam. The facility is expected to be completed by the end of 2022. However, speculations have it that the company was supposed to hold the commencement launch for the center here on Saturday but decided to cancel it due to the COVID-19 spread across the globe.

As per official sources, Samsung’s Vietnam R&D center, on completion, would be the company’s largest in South Asia with nearly USD 17 billion investment in the region and would open tremendous employment opportunities for over 3000 people. The company further states that the development of Hanoi center would add to the expanding presence of Samsung in Vietnam and also complement the dedicated smartphone R&D in state of Hanoi.

It has been reported that the R&D facility would lay focus on the 5G network technology along with a host of other leading next-generation technologies like the AI, Internet of Things, Big Data and others, which would eventually let the company to bolster its presence in the infrastructure sector.

Reuters reports that according to various government customs data, exports of smartphones and spare parts in Vietnam, most of which were manufactured by Samsung, eventually recorded a valuation of USD 51.38 billion in 2019.

Moreover, steps taken by various manufacturers to shift the production from China to Vietnam owing to the growing trade tensions and rising labor cost, would prove to be a profitable ground for both the region as well as the company.

Claims have been made that the company already has its R&D facilities dotted across the globe including China, Canada, South Korea, and the United States and UK.

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Omkar Patwardhan

Omkar Patwardhan started his professional career in the hospitality industry. Having nurtured a deep-sated passion for words however, he found his way into content writing and now pens down articles for and a few other websites, spanning the sectors of business, finance, and technology./