LG Group in general and LG Electronics Vietnam in particular define Vietnam as a country with a safe and attractive investment environment, so maintaining and continuing to invest here is a long-term development strategy. long and lasting …
The meeting between leaders of Foreign Investment Department, Hai Phong Economic Zone Authority and LG Electronics Vietnam
At the meeting between the leaders of the Foreign Investment Department (Ministry of Planning and Investment), Hai Phong Economic Zone Authority and LG Electronics Vietnam Company in Hai Phong on the afternoon of April 14, Mr. Jung Hai Jin, The General Director of LG Electronics Vietnam in Hai Phong shared about LG Group’s withdrawal from smartphone production in Hai Phong.
Mr. Jung Hai Jin said: “Smartphones are one of many other electronic products that LG is making here. The withdrawal or reduction of smartphone production at the Hai Phong factory is the policy of LG Electronics globally. in product restructuring. ”
Previously, according to Business Korea, LG Electronics was gradually closing factories in Taubate (Brazil) and Qingdao (China). LG’s cessation of smartphone production in Hai Phong is part of the group’s policy to withdraw from the smartphone market to focus resources on better growing businesses such as electric vehicle components, cars, and equipment. connections, civil electricity …
LG Electronics Vietnam in Hai Phong officially came into operation in 2013, up to now, this enterprise has an investment capital of up to 1.5 billion USD, including factories manufacturing products such as audio-visual equipment, home appliances, informatics products, air conditioners and air solutions, beauty equipment … to supply to the global market.
Right at this moment, LG Electronics Vietnam Hai Phong is investing in an additional factory to produce super super washing machines, this factory has a factory area of up to 43,000m2, adjacent to the phone factory. This factory is expected to come into operation by the end of 2021.
Mr. Le Trung Kien, Head of Hai Phong Economic Zone Authority, said that LG Electronics Vietnam is part of LG Group’s group of manufacturing companies located in Trang Due Industrial Park. Compliance with regulations and policies on investment law and the environment and make a great contribution to the export and import turnover, as well as the city budget. In particular, LG Electronics Vietnam is a business with good links and cooperation with the business community in increasing the localization of products and focusing on the welfare of employees.
At the meeting, Mr. Do Nhat Hoang, Director of the Foreign Investment Department, said that an enterprise or a corporation changes its production and business strategy, positioning its products to suit its capacity. Intrinsic is very normal, especially, in the face of a breakdown in global supply chains due to the Covid 19 pandemic, the restructuring of enterprises is inevitable and necessary.
Sharing the company’s policy, Mr. Jung Hai Jin, General Director of LG Electronics Vietnam in Hai Phong said that LG Group in general and LG Electronics in particular define Vietnam as a country with an investment environment. Safe, attractive, so maintaining and continuing to invest here is a long-term and sustainable development strategy.
Before the information around the smartphone factory in Hai Phong, Mr. Jung Hai Jin affirmed: “We have no plan to sell the factory, but if the product restructuring, this facility will be transformed. to the new function, all workers working in the smartphone factory will be kept intact to serve the production of other products “.
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