New DelhiSamsung CEO Roh Tae-moon has announced that the company will make a new $3.3 billion investment in Vietnam to manufacture new semiconductor parts.
Announcement, which was made last week to Vietnamese Prime Minister Pham Minh Chin, comes amid China’s growing concern over US dominance in the semiconductor industry. China is made Frightened About the tech giant’s America and its possible alliance with ‘chip 4‘ Treaty. This collaboration, together with countries such as Japan, South Korea and Taiwan, threatens to exclude China from the international semiconductor production chain.
Samsung also hopes to facilitate further collaboration with Vietnamese research institutes and universities.
of the world Largest Global memory chip maker, Samsung aims to begin trial production of its ‘flip-chip ball grid array’ – a surface-mount packaging technology used for integrated circuits – in the Vietnamese province of Thai Nguyen by July 2023. Samsung has already Investment $1.4 billion in the region. It also expects to set up a new research and development center in Hanoi, the capital of Vietnam, by the end of this year or early 2023.
An initial portion of Samsung’s investment, $841 million, is already done created As the technology giant in Ho Chi Minh City continues to diversify its manufacturing supply chain.
‘Vietnam will provide best possible conditions for foreign investors’
Discussing recent investment by Samsung, Vietnamese PM Signo Told“The Government of Vietnam is committed to creating the best possible conditions for foreign investors in general and Samsung in particular.”
He also pledged to seriously consider and proactively handle Samsung’s proposals, including training human resources to meet the needs of enterprises and investors.
While Samsung has moved away from China, halting production of personal computers in Suzhou as well as closing its last mainland smartphone factory in Huizhou, South Korea, continues to do business with the country. South Korea-China trade recorded There has been a loss of $570 million this month and a decrease is being recorded since May.
multiple technology corporations to like Intel, Amcor and Hana Micron have invested in setting up manufacturing, assembly and testing facilities for semiconductor chips in Vietnam. International manufacturers, meanwhile, are moving away from China for its stringent COVID-19 measures as well as rising geopolitical tensions with the West.
Read also: Not just Russian oil and gas, China is dividing Europe’s wealth into metals