Samsung Viet Nam eyes production boost
BAC NINH (VNS)- Samsung Electronics Viet Nam (SEV) plans to inject as much as US$830 million into its production line in northern Bac Ninh Province, a move that would push total investment in the plant past $1.5 billion.
According to the province's industrial parks management authority's deputy head Lam Thanh Son, SEV intends to more than double the $670 million in capital it currently has registered there.
The move comes after the Government approved a proposal for
additional tax breaks and incentives submitted in August.
Son added that Yen Phong Industrial Zone based Samsung will also lease an additional 40 hectares to increase the quality of the production line, boosting output of products including mobile phones, tablets and electronics accessories.
SEV hopes to attract around 300 sub-investors for the project and create jobs for as many as 30,000 local workers. - VNS