Samsung, LG plan multi-billion-dollar additional investment in VietnamMotorcyclists pass restaurants and stores on a street near the Van Trung Industrial Park in Viet Yen district, Bac Giang province, Vietnam. (File photo: Bloomberg)HANOI: South Korean electronics giants Samsung and LG plan to pour billions of United States dollars of additional investment into Vietnam, state media reports and the Vietnamese government said on Tuesday. The announcement comes after Samsung cut smartphone production in Vietnam twice this year in response to weaker global demand. Samsung Electronics, the largest single foreign investor in Vietnam, will invest $2 billion more in the Southeast Asian country, raising its total to US$20 billion, Vietnamese state media said. The state media report and the government statement did not provide further details on the investment by the two companies.

Source: Bangkok Post December 06, 2022 19:22 UTC