VietNamNet Bridge – The world's second largest TV manufacturer, LG Electronics (Korea), will move its TV production chains from Thailand to Vietnam this year, in order to increase productivity and save costs.
In an interview with Reuters, the Marketing Director of LG Electronics Thailand, Nipon Wongsaengarunsri, said they wanted to have a base in the region with new machinery for the production of TV sets, on a similar scale to factories in Korea. The group considers Vietnam the best location.
"Our parent company considers Vietnam the most worthy country for investment. Wage is a factor. But the guarantee of quality, as well as logistics, are also very important," he said.
According to Nipon, LG currently produces 600,000 TV sets per year in Thailand, worth 8 billion baht ($243 million), including 100,000 units for export.
VNE