Korean tech giant LG Electronics Inc. said on April 20 that it plans to produce home appliances from its smartphone manufacturing line in Vietnam’s Hai Phong city as the company earlier decided to fully withdraw from the mobile business.

The country needs to well prepare for conditions to compete with its rivals in attracting foreign investment.

Vietnamese air conditioner manufacturers are increasingly using sophisticated technologies as they jostle for market share in a competitive market.

Despite FDI shown signs of a slowdown as a result of the negative impact of COVID-19, experts believe that the nation will be able to welcome an array of fresh dual investment after the pandemic.

In 2019, foreign direct investment attraction was a bright spot of Vietnam’s economic picture. It is expected to continue being one of the vital drivers of the country’s growth this year and beyond.

Samsung has affirmed that it will continue us to choose Vietnam as its biggest production base, from which Samsung’s mobile phones will go to the world market.

The move to slash prices of Sony’s models has raised doubts that Sony is trying to dump stock before leaving Vietnam. But Sony has denied this.

VietNamNet Bridge - Many foreign investors are contributing capital or buying stakes in Vietnamese enterprises.

 VietNamNet Bridge – Samsung, LG, Canon and Nokia of Microsoft all have relocated their production bases to Vietnam.

VietNamNet Bridge – The high-end smartphone market in Vietnam is now dominated by Samsung, Nokia and Apple.

The emergence and expansion of international technology corporations in Vietnam in the past two years shows an important shift in investment. The Vice President of the Vietnam Association of Foreign Investment Enterprise talks about this trend.

 VietNamNet Bridge - Thanks to its low labor costs, favorable geographic location and its market of nearly 90 million people, Vietnam has received billions of US dollars of investment from giants like Samsung, Intel and LG.

 VietNamNet Bridge – A number of the largest global technology groups have set up their factories in Vietnam, giving many reason to believe that Vietnam is destined to become the world’s major electronics production base.

 VietNamNet Bridge – More and more South Korean investors have flocked to Vietnam to do business here, thus turning Vietnam into their new battle field.

 Production, business sectors pay more tax; Kumho plans $100m spend in Viet Nam; Vietnam flaps its air-transport wings; Shiseido Vietnam builds US$30 million plant in Dong Nai

 VietNamNet Bridge – South Korea’s LG Electronics today received the investment certificate for its $1.5 billion manufacturing project in the northern Haiphong port city.