Samsung Electronics has started building a $220 million research and development center in Vietnam, the South Korean tech giant’s local unit said on Monday.
Construction of the center in Hanoi will be completed by the end of 2022, Samsung Vietnam said in a statement, adding that the center will employ between 2,200 and 3,000 people.
Samsung is the single largest foreign investor in Vietnam, with investments totaling $17 billion, it said.
The center as planned would be the largest of its kind in Southeast Asia and will enhance the company’s research capability in such areas as artificial intelligence, internet of things, big data and 5G, it said.
The Vietnamese government earlier on Monday announced the commencement of building of the R&D center.
Vietnam’s exports of smartphones and spare parts, mostly produced by Samsung Electronics, rose 4.4% last year to $51.38 billion, according to government customs data.
Source: reuters