Samsung Electro to spend $750m on Vietnam plant

Samsung Electro-Mechanics Co., a South Korean industrial parts maker, said Thursday that it plans to invest US$750 million into a plant to be built in Vietnam as part of efforts to increase its presence in South Asia. The spending will be carried out through next year with the plant expected to start operations during the second half of next year, it said, adding that the facility will produce electronic parts and camera modules. The plant in Yen Binh Industrial Park in Thai Nguyen province would be the ninth overseas factory for Samsung Electro-Mechanics, which already runs five in China, two in Thailand and one in the Philippines, it said. Samsung Electronics Co., the world's largest smartphone maker, also operates a handset device-manufacturing plant in Vietnam.