The awarding of the investment certificate to the South Korean firm took place during a recent trade and investment promotion visit to Busan by the HCMC government.

 

With total registered capital of US$63 million Daeyoung Electronics Vina will produce electronic components and LED screens.

 

The project is what the city needs to develop supporting industries for major manufacturers like Samsung who will spend US$1.4 billion on an electronics complex in HCMC. Samsung’s investment project is expected to attract firms in supporting industries to come to set up shop.

 

Phase one of Samsung’s new manufacturing complex is scheduled for operation in next year’s quarter two to produce TVs. In the next phase the complex will manufacture home appliances like fridges, air conditioners and washing machines.