Nokia to establish a new manufacturing site in Vietnam
Nokia's ambition is to connect the next billion people to the Internet. As a major step towards achieving this goal, Nokia today announced plans to establish a new manufacturing site near Hanoi in northern Vietnam. Nokia plans an initial investment of approximately EUR 200 million, with further sizeable investments thereafter. In a ceremony that took place in Hanoi, Vietnam, the representatives of the Vietnamese government and Nokia signed a Memorandum of Understanding marking the beginning of a phase of preparations ahead of the targeted opening of the new plant in 2012. The site would further expand Nokia's manufacturing network, which currently consists of ten major facilities in nine countries.