South Korean generation massive LG Electronics plans to spend as much as US $ 1.five billion to add a factory in Vietnam. growing international locations in Southeast Asia adjoining to Indonesia in recent years, have become the basis of huge electronics manufacturers who want to advantage from skilled employees, however with reasonably-priced pay.
Later, LG will construct a manufacturing complicated inside the Haipong city region, a hundred kilometers from the metropolis of Hanoi in the subsequent ten years, the organisation said, according to the Wall avenue magazine. The plan, the manufacturing unit complex will cover 40 hectares and is used to provide mobile phones, televisions and home digital appliances within the second half of of subsequent year. It additionally relocated two pre-present factories in Vietnam.
most of the electronics produced inside the LG manufacturing unit will be sold for Vietnam by myself. currently, the LG manufacturing unit already operating in Vietnam has a production capability of approximately 750 thousand units for television, 400 thousand mobile phones, 150 thousand air conditioners, 500 thousand washing machines and 500 thousand vacuum cleaners.
“For global corporations like LG, Vietnam is an interesting region to invest. The country is politically strong and has a well-educated youth group of workers, “stated LG spokeswoman Ken Hong.
Vietnam has a populace of 92 million human beings has attracted interest to other worldwide electronics companies, along with Samsung, Foxconn, Intel, and Canon. In reality, most of Vietnam’s export revenue comes from the digital production of overseas corporations which can be exported abroad. according to Vietnamese authorities facts, exports of digital products, inclusive of pcs, phones and cameras rose by using ninety percent from last year to US $ 22.25 billion and accounted for about 19.four percent of overall export income.
no longer long in the past, the organisation which is likewise a country with LG, Samsung has additionally began to construct a manufacturing unit complicated really worth US $ 2 billion in Thai Ngunyen province, northern Vietnam. It wanted, so the manufacturing facility can produce smartphones and a few other digital goods. in addition, Samsung also has a factory worth US $ 1.five in Bac Ninh province and in Ho Chi Minh town.