The new building, which is located in Dai Kim Ward, Hoang Mai District, Hanoi.
The new R&D centre reflects Samsung’s intention to make Vietnam a new Silicon Valley, rather than a manufacturing destination. The company also plans to expand its R&D workforce from 1,600 to 1,800 engineers. This shows Vietnam will be producing more value-added products.
According to Chairman of the Vietnam Association of Foreign Invested Enterprises Nguyen Mai, those upbeat market signals show a new wave of foreign direct investment flowing into Vietnam that boasts much higher value-added production.
In the recent years, some big names such as Hewlett-Packard, Piaggio, Panasonic, Yamaha and General Electric have invested in their own R&D establishments in Vietnam.
The emergence of R&D projects will speed up the technology transfer process and make golden opportunities for Vietnamese to access advanced technology from global conglomerates.
The Prime Minister assigned Hanoi People's Committee direct the local authorities to issue the project's certificate of registration of investment, inspect and monitor prescribed preferential conditions.
The Ministry of Science and Technology is responsible for overseeing the project on organizational personnel structure to ensure meet human resources conditions as well as research and development activities.