Samsung to invest $3.3 billion in Vietnam

Samsung will begin commercial production of semiconductors in July 2023. Getty

South Korean "Samsung Electronics" plans to invest an additional $3.3 billion this year in Vietnam.

In a recent meeting with Vietnamese Prime Minister Pham Minh Chinh, the head of Samsung Electronics' mobile division, TM Roh, said the company is preparing for trial production of semiconductors, according to a statement reported by Bloomberg News.

It is planned to start commercial production in July next year at the Korean factory for electronics manufacturing in the province of "Tai Nguyen" in northern Vietnam, while no timeframe for this investment was disclosed.

According to the statement, Samsung Electronics expects to open a research and development center in Hanoi, serving Southeast Asia, late this year or early 2023.