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March 26, 2013

Samsung begins construction of $2bn plant in Vietnam

This will be the company's third plant in the country

By CBR Staff Writer

Samsung’s Vietnam unit has started construction on a $2bn plant in the north of the country, as part of its efforts to expand its production base.

Samsung is anticipating the new plant to commence operations by late 2013 and that it will manufacture its products including mobile phones, cameras and laptops.

The new plant, which will be the company’s third in Vietnam, will have a production capacity of manufacturing 10 million products per month. During 2013, Samsung is aiming an exports target of $16.5bn, up from $12.7bn in 2012.

Earlier, Samsung Electronics had built an electronics manufacturing plant worth $1.5bn, in the Bac Ninh province and its second plant was built in Ho Chi Minh City.

The South Korean firm is involved in consumer electronic goods production and operates in two segments, including the component division and the end product division.

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