Samsung targets USD 1-billion manufacturing plant in PH

Samsung, a South Korean electronics firm, is planning to invest USD 1 billion in a manufacturing plant in the Philippines, according to a government official.

Courtesy: Samsung

Samsung to construct a manufacturing facility in PH?

Frederick Go, special assistant to the President for investment and economic affairs, bared this potential massive investment recently, saying the plan was already "under process."

The government, he said, was also finalizing perks for Samsung.

Go was hopeful that Samsung's talks with the government would be finalized with the semester.

If this materializes, Samsung’s investment in the Philippines could further entice other foreign companies to expand their operations to the local market.

Samsung is engaged in the manufacturing of smartphones, tablets, televisions, home appliances, and semiconductor components.

It also supplies key components, like memory chips, processors, and display panels, to other technology companies.

Known as a leader in mobile communication technology, Samsung recently secured a high-ranking position at the 3rd Generation Partnership Project (3GPP), the world’s largest telecommunications standard development organization.

Since its establishment in 1998, 3GPP has led the development of global mobile communication technology standards with participation from major telecommunications companies and organizations worldwide, including Samsung, Apple, Qualcomm, HUAWEI, Ericsson, and Nokia.

Sources: Philippine Daily Inquirer, Samsung