Samsung gets go-ahead for $1b plant

The People’s Committee of northern Bac Ninh province on July 2 granted an investment license to Samsung Display Co, Ltd for a US$1 billion project in the Yen Phong Industrial Park.

Once fully operational, the project is expected to generate 8,000 jobs with revenues of US$6 billion per annum.

Provincial People’s Committee Chairman Nguyen Nhan Chien affirmed that Bac Ninh has been known as a locality with a highly attractive investment environment and dynamic development in all fields.

The project is in accordance with the province’s orientations on investment attraction, spearheading industry in the field of electronics and telecommunications. It will contribute to increasing added value in industrial production, expanding export turnover and generating stable income and jobs.

Nhan expressed hope that with the province’s open-door policies and political stability, Samsung Display Co, Ltd and foreign businesses will continue to expand their production and investment in the locality.

For his part, Samsung Display Co, Ltd Choi Kwon Young expressed delight with investing in Bac Ninh province thanks to its modern infrastructure and abundant human resources.

Samsung Display plans to produce a series of flexible displays in the world by 2015. This is the one of the latest products of Samsung Display. To fulfill the target, the company will make great efforts to receive active support from local authorities, said General Director Young. 

VOV/VNN
Samsung Display, $1 billion project, Bac Ninh
 
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