BAC NINH (VNS)— The Industrial Parks Authority in the northern province of Bac Ninh granted a modified investment certificate for Samsung Electronics Viet Nam on Thursday to add US$1 billion investment to its SEV3 project.
The company's investment certificate will be revised following the Government approval, paving the way for the company to increase capital for the project to $2.5 billion.
Construction of the 550.000 square metre plant in Yen Phong I Industrial Zone will get underway this month and is targeted for completion by 2017. When fully operational, it should employ around 20,000 workers.
Samsung Electronics Viet Nam said the extra capital would allow the Samsung complex in Bac Ninh to become its largest manufacturing base in the world.
It will produce high-tech products such as mobile phones, telecom devices, spare parts and other electronic products.-VNS