Samsung Reportedly Mulls $1 Bln Investment In Vietnam

(RTTNews) - South Korea's Samsung Electronics Co. is considering investing more than $1 billion in a third consumer electronics plant in Vietnam, The Wall Street Journal reported Monday.

The new factory will likely be built in a high-tech park in Ho Chi Minh City, the Journal quoted the city's deputy chairman, Le Manh Ha, as saying.

Ha declined to provide a time frame for construction of the plant, its size or what would be produced there, the Journal said.

Samsung currently operates two factories in Vietnam - one in Thai Nguyen province in northern Vietnam and the other in Bac Ninh province near Hanoi. Both are used to manufacture mobile phones.