Samsung starts building $220 million R&D center in Vietnam

FILE PHOTO: The logo of Samsung Electronics is pictured at the company’s factory in Tijuana, Mexico, June 1, 2019. REUTERS/Jorge Duenes

HANOI (Reuters) – South Korea’s Samsung Electronics has started building a $220 million research and development center in Vietnam, the Vietnamese government said on Monday.

Construction of the center in Hanoi will be completed by the end of 2022, the government said in a news release, adding that it will employ between 2,200 and 3,000 people.

Samsung is the largest single foreign investor in Vietnam, with investments totaling $17 billion, according to the statement.

Reporting by Khanh Vu; Editing by Tom Hogue

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