Nokia to set up mobile phone plant in Vietnam

Nokia on March 29 agreed to a long-term lease on land belonging to VSIP Bac Ninh Co. Ltd to set up a mobile phone plant.

It will be the first of its kind in Southeast Asia and Nokia will invest about $280 million in the initial stage.

Covering an area of 17 hectares about 20km outside Hanoi, in Bac Ninh province, the plant will be put into operation in 2012.

The brand is now running 10 plants in 9 countries all over the world and plant in Vietnam will be its 11th branch.

 

Category: Business