Massive Samsung R&D centre for Vietnam

A new research and development centre for Samsung worth almost $400 million will be built in Vietnam's capital Hanoi.

Samsung Electronics Vietnam has been given the green light by Prime Minister Nguyen Tan Dung to build a $US300 million ($A398.67 million) research and development centre in the capital Hanoi, Viet Nam News reports.

Once operational in 2019, the 21-storey facility will cover three hectares, employ about 6000 people and develop high-tech electronic and telecommunication products.

It will also operate rent-free for 50 years.

Vietnam has become one of Samsung's biggest production hubs, and the firm has invested almost $US15 billion in two production facilities in the country's north, and in Saigon.

Producing Samsung products has helped Vietnam replace clothing and footwear with smartphone and electronics manufacturing as the country's largest source of export revenue.

Smartphone exports alone were worth $US30 billion last year, making up 18.6 per cent of the Communist country's total export revenue.

Source: AAP

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