Technology News: Samsung Electronics Secured a license $3 billion to expand the Production in Vietnam

The Vietnamese government said  that  the South Korea Samsung Electronics Co Ltd has secured a license $3 billion to expand Samsung Electronics production  in northern Vietnam.

On November 17  The Vietnamese government was awarded  the license in Thai Nguyen province.

The Samsung Electronics has been operating $2 billion Smartphone plant, the Vietnamese government said  about the statement issued on Monday,without giving further details of the project.

Samsung Electronics has said its handset business in Northern Vietnam as part of its strategy to cut costs & better compete with Chinese Rivals.