Samsung Electronics is planning to invest $1.5 billion to build a semiconductor testing plant in Vietnam in an effort to ease the global memory chip shortage.
Per a report by Reuters citing a proposal document from the company, construction on the new factory has already begun at an industrial park 60 kilometres (37 miles) north of Hanoi.
Vietnamese authorities approved the investment in March, Reuters added, with Samsung reportedly planning to reinvest any profits from the site up to $2.5bn in a potential second factory.
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The current facility is expected to be operational by November 2027 and would be the company’s first chip testing plant in the country. The report further noted that the factory would focus on the development of memory chips, with an anticipated annual capacity to deliver 153.3bn GB of DRAM chips and 255.6bn GB of NAND memory chips.
