Vietnam is starting to open up more to strategic collaborations compared to the past. It is improving its relationship with South Korea, and the latest billion-dollar investment by Samsung and LG will bring a comprehensive strategic partnership between the two countries that Vietnam has so far only forged with China, Russia and India.
Reuters also announced the landmark deal on its Twitter account. South Korea's Samsung LG informed official state media and the Vietnamese government on Tuesday of a billion-dollar investment in Vietnam. It will be an additional $2 billion on Samsung's part, bringing its total investment in the country to $20 billion.
From LG will come another $4 billion worth of investment. The electronics giant has so far invested $5.3 billion in the Southeast Asian country in the production of electronics and automotive components.
So next year should be a successful one for Samsung. Demand could reach a better level in 2023. The company's financial results for the third quarter were good, we saw record sales and annual sales are expected to surpass the all-time high reached in 2021 [1].
[1] Forward-looking statements are based on assumptions and current expectations, which may be inaccurate, or the current economic environment, which may change. Such statements are not guarantees of future performance. They involve risks and other uncertainties that are difficult to predict. Results may differ materially from those expressed or implied by any forward-looking statements.
