Sam Sung to build big plant in Bac Ninh

19:56 | 02/07/2014

VGP – Bac Ninh province’s authorities on July 2 handed over an investment license to the Republic of Korea’s Samsung Display Co. Ltd. to start the construction of a US$1 billion plant at the Yen Phong Industrial Park, according to the Viet Nam News Agency.

The plant is designed to produce 48 million pieces per year. It is expected to create jobs to about 8,000 employees and generate an annual turnover of about US$6 billion.

Chairman of the provincial People’s Committee Nguyen Nhan Chien said his province considers foreign investment as vital resources to promote the locality’s socio-economic development, adding that Bac Ninh has taken many measures to improve investment environment.

He also pledged that the local authorities will spare no efforts to ensure security, while facilitating enterprises to operate stably and effectively in the province.

The province has so far granted investment licences to 742 projects totalling US$9.1 billion, of which US$8 billion came from FDI projects. These projects generated jobs for more than 151,000 employees.

Apart from attracting FDI to its support industry, the province also favours projects that are globally competitive.

Bac Ninh has finalised a plan approved by the Government to develop 15 industrial parks in an area of over 7,500 ha by 2015 with a vision to 2020, and eight have already been put into service./.