Operate Immediately Nokia's New Factory in Vietnam

Stephen Elop, vice president of Devices and Service at Nokia world-wide, said the inauguration ceremony marked 17 years since its first activities in the Vietnamese market.

The Nokia exec also affirmed the company was committed to working closely with the local government and run a business to bring leading mobile experiences to Vietnam.

Nokia said it will set up manufacturing plant in northern Bac Ninh Province as a model for the company's other international activities. The Finnish mobile firm also said it's Vietnamese factory was part of its efforts to build a globally competitive workforce.

Speaking at the ceremony, Deputy Minister of Planning and Investment Dang Huy Dong acknowledged that Nokia's investment in Vietnam had contributed to developing the tech industry in Vietnam and that the country was committed to becoming an important manufacturing hub in the region.

Dong also said that the plant would help boost Vietnam's production capabilities in the region.

Vinod Muralidharan, General Manager at Nokia Vietnam, said they were very proud to officially introduce a new member to Nokia's global production network.

Nokia's Vietnam factory affirms its strategic and sustainable position in Vietnam, which is fast becoming known as a hub for multinational corporations wanting to expand into Asia.

Nokia said the factory would play a key role in Nokia's regional operations, as well as provide training and human resource development for workers at the Bac Ninh Province facility.

The Finnish company received the Certificate of Investment on 15 November 2011 , and has formed the Nokia Vietnam Limited Liability ( Limited Liability Company - PT ) . The hope , the plant could be operational in early 2013.

Facilities at the plant touted to 300 million dollars worth of AD , and will be located in Vietnam - Singapore Industrial Park ( VSIP ) in Bac Ninh , a province in northern Vietnam . VSIP is an industrial area , where Samsung is also building a plant there for smartphone products .

Nokia upbeat , low-end mobile phones are made ​​in Vietnam can be created in the near future , and began to be exported to all over the world next year . In this factory , Nokia will employ about 10,000 workers until the end of 2014 , which is expected to produce 45 million phones per quarter.

Nokia taking steps to build a factory in Vietnam after the company restructured organization . To further cut spending , they also move Nokia Asia Pacific headquarters from Singapore to China .