Chairman of Ha Noi People's Committee Nguyen Duc Chung (third right) hands over investment certificate to a representative of Samsung Electronics Viet Nam. — VNS Photo
HÀ NỘI (VNS) — The Hà Nội People’s Committee yesterday issued an investment certificate to Samsung Electronics for a research and development centre in the capital city’s Hoàng Mai District.
To cost US$300 million, the 21-storey centre will develop high-tech electrical, electronic and telecom products.
Construction will begin July 2017, and it will open in January 2020 when it will hire 4,000 employees.
Speaking at the licensing ceremony, Hà Nội chairman Nguyễn Đức Chung said the project would help the city attract more foreign direct investment and develop skilled human resources and high technology.
It would also create co-operation among local companies to develop supporting industries, he said.
Hà Nội has attracted FDI worth over $810 million in the first quarter, five times the amount in the same period last year.
Samsung is one of the biggest investors in Việt Nam, with a report from the Ministry of Planning and Investment saying it had invested $14 billion as of September 2015 in many big projects in the northern provinces of Bắc Ninh and Thái Nguyên and in HCM City. — VNS