The Republic of Korea (RoK)’s 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.
Total retail sales of goods and services in Vietnam in the first seven months of the year rose 11.6 percent from the same period in 2018 to reach 2.8 quadrillion VND (120.36 billion USD).
Vietnamese suppliers of home appliances and agricultural products have been the apple of Japanese businesses’ eyes thanks to their large export scale and steady growth in recent years.
Hanoi’s consumer price index (CPI) for January rose 0.86 percent over December 2017 and 2.06 percent compared to the same month last year, according to the Hanoi Statistics Office.
Republic of Korea-based Samsung Electronics is considering building a home appliances factory in Myanmar, efforts to seek new manufacturing facilities to cut labour costs and improve efficiency.
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